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On Financial Engineering and Financial Innovation

July 22nd, 2009, 12:07 pm admin Leave a comment Go to comments

http://rortybomb.wordpress.com submits: Robert Shiller in The New York Times : The subprime mortgage is an example of a recent invention that offered benefits and risks. These mortgages permitted people with bad credit histories to buy homes, without relying on guaranties from government agencies like the Federal Housing Administration. Compared with conventional mortgages, the subprime variety typically involved higher interest rates and stiff prepayment penalties. Complete Story »

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