I could have told you 6 maybe 7 years ago this subprime mess was coming. Any fool could look around and tell there weren't enough 6 figure salaried jobs around to pay for all those 6 figure plus homes being built. Everywhere you looked there were people, driving BMWs, rolling into gated communities with homes starting at $500,000.00, you knew it couldn't last.
Those were the headlines because they effected big money. Subprime crisis! Talk of bailouts and stimulus packages filled the air. You envisioned high rollers jumping out of windows and mortgage company closing, white collar crime and scandals everywhere. But the true scandal of banking deregulation isn't even reported, but that maybe because it only effects the 12% who are living at or below poverty.
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