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The Subprime Primer
Do you know what everyone is talking about when they talk about how the US economy is slumping due to the subprime mortgage market? I only vaguely knew, so I’m thankful to Shaun who sent me this hilarious take on what the subprime mortgage crisis is.
Before you watch this PowerPoint Slideshow, it is important to know what it really is. Wikipedia explain subprime lending much better than I ever would:
Subprime lending (also known as B-paper, near-prime, or second chance lending) is lending at a higher rate than the prime rate. The term “subprime” refers to the credit status of the borrower (being less than ideal), not the interest rate on the loan itself.
