xianglaluobo的博客

Deception was increasing and unscrupulous practives were spreading.

As housing prices soared in what beacame a speculative bubble, Fed officials took comfortable that foreclosure rates on subprime mortages remained relatively low. But neither the Fed nor any agency in Wangshton examined what might happen if housing prices flattened out or declined.

Default rated on subprime loans sorared to 20 percent in cities whe4re home prices stopped rising or start to fall.

Hindsight is always 20-20.

Piggyback loan, which allow perple to buy home wihtout down payment.

Greenlining n.反击拒贷　implore v.恳求，哀求　　press for v.迫切要求

prop up the economy v.支持，支撑　　ill-suited a.不合适的　　competition intensified 竞争加剧

unmistable a.明白的，没错的　　head off a recession v.阻止衰退