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View Full Version : THE SUBPRIME MESS TO COME



VITOLIER
06-02-2012, 23:23
Now that the Luzhkovs and Co have left the scene poor Moscovites
may soon face the same mess as explained by John Parr..

Subprime crisis explanation by The Long Johns - YouTube

Jack17
06-02-2012, 23:36
I'm trying to get my brain around this Luzhkov & Cie sub prime crisis. How do you have a sub prime crisis with mortgages at 10%? The Russian banks haven't been just handing out mortgages to anyone as was the case 7 years ago in the US.

It would seem to me if someone were to "package" Russian mortgages, those derivatives would be anything but subprime.