Sunday, December 28, 2008

The Start of the Mortgage Meltdown

With landscapers claiming $150,000 a year incomes, WaMu built a home mortgage business that eventually collapsed in a sea of bad mortgages. The NYT has a story today that provides an intense insight into the home mortgage business, and the collapse of Washington Mutual.

By Saying Yes, WaMu Built Emplire on Shaky Loans

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