Volume 14 - Number 2
January 29, 2010
New Century Ignored Warning Signs
New Century Financial, one of the largest originators of subprime mortgages, didn’t waver from its business model from the subprime boom until its collapse in 2007, according to a Bank for International Settlements analysis. This commitment to what would cause the mortgage meltdown was a quintessential example of the mentality that perpetuated risky lending practices...
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