This is about as good as investigative journalism gets. The Center for Public Integrity, a U.S. organization staffed by dogged reporters, analyzed more than seven million high-interest loans handed out in the United States between 2005 and 2007. The result? “The Subprime 25”—a compilation of the companies most to blame for the shortsighted lending practices that triggered a global economic meltdown. Their reporting also revealed “that at least 21 of the top 25 subprime lenders were directly or indirectly financed by the mega banks that received bailout money—through direct ownership, credit agreements, or huge purchases of loans for securitization.” Click on the link and follow the money.
Who is responsible for the financial meltdown?
“The Subprime 25”
FILED UNDER: economy