The sub-prime crisis from K@W
July 20, 2008 1 Comment
Just discovered a great resource on YouTube — Knowledge@Wharton has a channel there. See this video on the sub-prime crisis:
To add to the video, I have also heard that once the sub-prime crisis started making its presence felt, the prices of the homes the sub-prime borrowers had bought fell and they realized that the amount they would pay was lower than what they would get by selling the houses. That only precipitated the crisis.