Financial Crisis Housing Markets Moral hazard: unscrupulous and predatory tactics | Moral hazard: unscrupulous and predatory tactics |
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| Financial Crisis - Housing Markets | |
 T he subprime industry have been caught preying on the weak, who did and still have no means to buy a house, but were lent money at volatile if not usurary interest rates, burried into non comprehensible mortgage schemes. When the sector turned sour, central banks pumped in billions of dollars and euros to shore up those banks that made the unscrupulous loans.
Yet already in April 2008, £50 billion bail out package for banks organised by the bank of England and the UK government was set up and executed, as the authorities considered it the best of the worst options. As a signal, this had simply contributed in fact to promote even more unscrupulous lending and predatory tactics by banks, all around the 'modern economies', as they knew for sure they would be bailed out by their central bank if their risky investments turned sour. Save and share !
      
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