Why a US-Style Mortgage Crisis Can Happen Anywhere.
Industry and government organs in Canada, Australia, the UK, and other places with housing bubbles that are now deflating are trying to hide behind a false understanding of mortgage laws in the US and what happened during the US mortgage crisis. What happened in the US cannot happen here, they say to soothe their own jittery nerves. So I’m going to un-soothe those jittery nerves (13 minutes).
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