from US to Europe to Asia , share prices are falling so fast and so much , do you think american mortgage lenders are extremely irresponsible ?
2007-08-16 14:21:40 · 4 answers · asked by Anonymous in Business & Finance ➔ Other - Business & Finance
American mortgage lenders are extremely irresponsible, but those foreign private banks and foreign central banks who propped them up for so long are at fault.
The Canadians have a far more restrictive lending practices, but their markets are being impacted by this American slide because of the global reaction to the collapse of the American sub-prime mortgage market.
2007-08-16 14:47:54 · answer #1 · answered by The Stylish One 7 · 2⤊ 0⤋
It is not just the mortgage markets that are in trouble but the entire racket has been exposed as a house of cards. To understand what is happening, a whole range of financial activities running into billions of pounds were being financed on mortgage debts. Debts, not actual payments. Now this is to some is financial wizardry but to others like me it is financial suicide.
And the woe is set to go on because the debts that were depended on mostly are being defaulted in the US
2007-08-16 23:27:17 · answer #2 · answered by K. Marx iii 5 · 1⤊ 0⤋
I think some of the blame needs to go on the borrowers for taking these crazy mortgages in the first place.
2007-08-16 22:11:52 · answer #3 · answered by Bob 2 · 1⤊ 0⤋
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2007-08-17 04:48:33 · answer #4 · answered by Anonymous · 0⤊ 2⤋