Banks lent trillions to people ill-equipped to repay
Commercial banks and investment banks lent vast sums—trillions of dollars—for housing purchases and consumer loans to borrowers ill-equipped to repay.
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The Global Financial Crisis »The Global Financial Crisis
Long-term causes of the financial crisis? »Long-term causes of the financial crisis?
Unintended consequences of earlier public policy choices »Unintended consequences of earlier public policy choices
US spending funded by credit »US spending funded by credit
People encouraged to live beyond their means »People encouraged to live beyond their means
Banks lent trillions to people ill-equipped to repay
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