The Economy According to ThePete
johnt wrote an interesting post today on
Here’s a quick excerpt
Now, I don’t really watch the mainstream news–I read some of it online, CNN. … In the case of sub-primes, the interest rates were hiked so that the banks could make more money in the short term, while betting that in the long term, the borrowers w ould be able to pay the money back. What if they couldn’t? Good question….
Read the rest of this great post here