You want a car.
You have bad credit.
You go to the bank and because the girl liked you/you are family/they felt sorry for you/they wanted your business/or for whatever reason, they gave you the loan.
In a few months time, you get behind on your loan payments thus, the bank is not getting paid.
Everyone lost. You lost your car, the bank lost your business and whoever the bank gets their money from (themselves) they lost the money.
Over time and over so many losses, these mortage companies/banks have lost their money.
It also does not help that we have many huge corporations that have CEO, CFO and other executives that were paid millions while the underdogs/workers weren't paid well and ended up losing their jobs. They paid the big bucks to people who were crooks and who lost the company when they shouldv'e paid the big bucks to the workers, who made the company.
Hope this helps a little.I need help understanding the financial crisis we are in?the econemy is goin doun, goin doun, goin doun. the econemy is goin doun, poor old nave
like my song????I need help understanding the financial crisis we are in?Read "Crash Proof by: Peter Schiff. (2007)
Everything in this book is happening! It also explains how we got into this mess
Peter Schiff has been warning everyone of a crisis since 2006 or earlier.
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