The upshot: A lobbying group that (essentially if not overtly) encouraged people to take out mortgages they couldn’t afford is soon closing on a 12-story building it can’t afford because it will cost more to finance, it has lost members, etc. See article.

<http://www.washingtonpost.com/wp-dyn/content/article/2008/04/05/AR2008040502632.html>

Quote from article:

“Mortgage bankers encouraged people to take out mortgages that were very risky, and the result of that was a large number of the mortgages went bad and caused mortgage interest rates to soar. Now they are the victims of high mortgage rates and chaos in the market more generally.”

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