n The Dairy Mail - South Africa is still okay - : MPO current

Volume 16, Issue 6
  • ISSN : 1561-4301


The international financial crisis started a few years ago. The housing boom in the USA enabled banks to increase loans to homeowners, irrespective of their ability to repay these. These so-called sub-prime home loans (loans to people who did not qualify for prime rates), grew exponentially. The stream of income from these loans were then used as basis for cleverly designed financial instruments and traded internationally.

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