Recent financial crisis rooted in politics of creditworthiness, new study contends

Thursday, June 2, 2011 - 11:30 in Mathematics & Economics

A common reading of the recent subprime mortgage crisis pins the blame on bankers and loan brokers who extended mortgages to those who could not afford them, thereby inflating a housing bubble that was destined to burst. While technically correct, that reading ignores the "politics of creditworthiness" that undergirded the rise of subprime mortgages, as explained in a new study.

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