The Subprime Gift that Keeps Giving
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A lot of overnight sensation subprime lenders imploded after the speculative housing market bubble burst. But many of the biggest subprime players that not only made oodles of profits during the boom are also still around—and benefitting handsomely from federal bailout money.
According to a new Center for Public Integrity analysis of public records, almost two dozen firms that “fed off the subprime lending frenzy that devastated the banking system are set to receive billions in taxpayer dollars through a federal government program designed to stem foreclosures.”