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Subprime Lending Crisis: Auto Loans Thrive, Housing Down (Time Magazine)
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In the wake of the credit crisis, banks have scaled back lending to subprime borrowers. But other lenders have stepped in, making high-interest-rate loans to borrowers with low credit scores
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How a 32-year-old got filthy rich shorting the subprime market (The Oregonian)
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FRONT PORCH BLOG: Michael Burry – a doctor turned investor -- spotted a huge bubble in the subprime-mortgage bond market in 2004, created a way to bet against it then cashed in on it.
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Subprime crisis still grips boro, Comrie says (New York Post)
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City Councilman Leroy Comrie (D-St. Albans) told St. John’s University students last week that he still is fighting predatory lenders in the wake of a subprime mortgage crisis that has caused thousands of borough residents, especially in southeast Queens, to lose their homes.Unscrupulous lenders are continuing to push...
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Panel: GMAC won't repay $6.3 billion of bailout (Detroit Free Press)
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The congressional panel overseeing federal bailout recipients estimates GMAC will never repay at least $6.3 billion of $17.2 billion in taxpayer aid and called on the Treasury Department to demand GMAC take drastic steps -- including a possible bankruptcy for its troubled ResCap mortgage lending business.
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"Cash for keys" aids home borrowers, investors (Reuters via Yahoo! News)
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Jon Daurio, chief executive officer of mortgage investor Kondaur Capital Corp., recently offered a $4,000 check to Barry Culver for the deed to his Bryan, Ohio house.
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