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The mortgage crisis didn't
have to happen. It could have been avoided with surprising
ease had the "shadow bankers" and the desire for quick riches
not overwhelmed the good sense of lenders who should have
known better. Ordinary people saw the opportunity to get rich
in real estate and obligated themselves to loans that were
sometimes impossible to repay.
These are stories we all became used to seeing in the papers.
But there is much more to know about the most devastating
global financial crisis since the Great Depression.
This book reveals why every man, woman and child in America
is now about $40,000 in debt to pay for it (source: Data360.org).
It is about how credit scoring and misplaced reliance on technology
opened the door to greed. And how those in positions of oversight
failed to protect us.
It is also about how we got here, and what we can do to avoid
a similar catastrophe in the years ahead. The future we want
is not the future we are on track to creating. |
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The Legacy of Greed by Kenneth Clark
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" Everyone that owns or wants to own a home should read
it. "
- Dennis O'Brien, Commercial real estate professional
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Copyright 2010, Kenneth Clark. All rights reserved. |
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