The Mortgage Crisis Explained
The founding fathers of the United States wanted to create a financial system that would not allow private interests to impact national fiscal policy. Whether our current financial system represents that which the patriots of this nation had in mind when creating the initial banking system, or whether it represents exactly what they feared, is up to you.
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This infograph helps explain the subprime mortgage crisis which can be important to understand when applying for mortgage refinancing, or when applying for a new home mortgage. Understanding the big picture helps plan a new home loan, or deciding if you should refinance.
At eHomeMortgages we work with established financial experts and want you, the consumer, to have all the proper information when making a decision. If you have any specific questions thoughts, please leave a comment.
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Gramm Leach Bliley was passed in 1999. The key point to allowing AIG and other holding companies to escape evaluation and regulation of federal authorities. Thank you Phil Gramm, supposed economics professor who should solely be credited with the present economic mayhem and disaster.