Thursday July 2, 2020

Main Street misery moves to the markets

‘Here is how it works: First a scam lender uses high-pressure tactics to make loans at huge rates to the financially desperate.

7th June, 2008

‘Here is how it works: First a scam lender uses high-pressure tactics to make loans at huge rates to the financially desperate.

‘‘The lender sells the mortgages - that is the right to collect the debt - to a larger lender. In turn, the bigger player sells securities backed by the income stream from pools of these loans. The smaller operators walk away with a wad of cash that bankrolls still more predatory loans....

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