By Matthew Ogden

...because of changes in law in the 1970s and 1980s, mortgage loans were allowed to become a financial instrument (Mortgage Backed Securities—MBSs) to be sold and traded on the markets, and the current popping of the speculative bubble of MBSs is rapidly bankrupting hedge funds and companies such as New Century Financial and GMAC,

Reprinted from Executive Intelligence Review, June 1, 2007, Vol. 34, No. 22

Originally from LaRouche's Latest on June 3, 2007, 9:01pm

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  • Tom Usher

    About Tom Usher

    Employment: 2008 - present, website developer and writer. 2015 - present, insurance broker. Education: Arizona State University, Bachelor of Science in Political Science. City University of Seattle, graduate studies in Public Administration. Volunteerism: 2007 - present, president of the Real Liberal Christian Church and Christian Commons Project.
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