To the Point
The Sub-Prime Mortgage Meltdown
When the high-tech stock bubble burst, shareholders lost money. As the sub-prime mortgage market declines, people are losing their homes. We hear how it works, what can go wrong, and what it means for the rest of the economy. Also, Khalid Sheik Mohammed's confession continues.
By Warren Olney • • 1h 0m ListenWhen the high-tech stock bubble burst, shareholders lost money. As the sub-prime mortgage market declines, people are losing their homes. We hear how it works, what can go wrong, and what it means for the rest of the economy. Also, Khalid Sheik Mohammed's confession continues.
In this episode
2 storiesIn His Confession, Is Mohammed Exaggerating His Role?
Today's papers report the written confessions of the man who claims he was not only the mastermind of September 11, but also responsible for 30 other terror attacks and plans to attack.
Read the story14 minHome Loans and Easy Money, until Times Get Hard
No less an authority than Alan Greenspan, former Chair of the Federal Reserve , called sub-prime mortgages a tool for democratizing credit. Sub-prime mortgages with no down payments are advertised as the road to home ownership for families who can't afford regular loans.
Read the story35 min
