How the feds stopped the states from averting the lending mess
Georgia understood that impeding the capital flow to subprime loans might raise the cost of borrowing for some state residents--those who, for one reason or another, had poor credit but could and would repay high-priced loans. But Georgia judged that this was more than balanced by protection for its most vulnerable from the scourge of predatory lending and the wrenching costs associated with overpayment and eventual foreclosure. New York, New Jersey, and ... Full Story »
Posted by Kaizar Campwala
