Personal Credit Crisis
Watching the news each day, we hear about the effect subprime lending has had on the market and the economy. The untold story seems to be the how and why those borrowers took out the subprime loans.
New York Times economics reporter, Edmund Andrews, shares a compelling personal account of how one bad decision led to a chain of events resulting in a mountain of debt and imminent foreclosure. Often times, making a mistake is how we learn, but some lessons are harder than others.
http://www.nytimes.com/2009/05/17/magazine/17foreclosure-t.html
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