Subprime Mortgage Lender Failures: Peoples Choice

How homeowners’ missed mortgage payments set off widespread problems and woke up the Fed.
By Zachary A. Goldfarb and Alec Klein
The Washington Post
Monday, June 16, 2008; A01

 
The mortgage executives who gathered in a blond-wood conference room in Southern California studied their internal reports with growing alarm.
More and more borrowers were falling behind on their monthly payments [...]

…Like Rosie O”Donnell Being a Bond Girl

 
(From Forbes.com, by Maurna Desmond)
One of the things that made the American subprime crisis a crisis was the availability of mortgages to borrowers with dubious credit histories. Turns out that some of the middlemen arranging the mortgages were — and still are — temporarily boosting borrowers’ credit scores, passing off risky bets as worthy investments for the [...]