1. Who Profits the Most from the Bailout Money?
... did. They loaned a lot of money to people who were tremendously less than able to keep up with their payments should the economy take a downturn, which it did. When the housing bubble burst, a lot of those people found themselves paying on loans that were worth more than the homes they had purchased. Furthermore, many of those loans were already at up to 125 percent of ... cheaper for many of those people to declare bankruptcy and walk away than it was to stay put and pay their loans. The banking industry bet on a robust economy and ascending home prices and they lost the bet, jeopardizin...
- Word Count: 628
- Approx Pages: 3
- Grade Level: High School