From the Press Release: "As Congress tries to hammer out a $700 billion financial rescue plan, many people are still trying to understand how our financial institutions got into so much trouble in the first place, and why the government needs to take action to bail them out. In a new issue brief from The Century Foundation, economist and senior fellow Bernard Wasow answers ten crucial questions about the housing crisis. In “A Guide to the Housing Crisis: Ten Questions and Answers” Wasow offers straightforward answers to basic questions such as:
* Why did lenders make so many bad loans for mortgages?
* Why are so many different banks and brokerages all over the world in hot water?
* Who will eventually own the real estate properties involved?
* What will happen to the bankers and brokers who operated the institutions that created all these bad loans?
* What is the “worst case” outcome of this crisis?
* What is the “best case” outcome of this crisis?"
Source: the Century Foundation
Download pdf of “A Guide to the Housing Crisis: Ten Questions and Answers”
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