{"id":31561,"date":"2015-12-12T04:41:41","date_gmt":"2015-12-12T03:41:41","guid":{"rendered":"http:\/\/www.w-t-w.org\/en\/?p=31561"},"modified":"2015-12-12T05:33:47","modified_gmt":"2015-12-12T04:33:47","slug":"31561","status":"publish","type":"post","link":"https:\/\/www.w-t-w.org\/en\/31561\/","title":{"rendered":"Subprime Mortgage Crisis Revisted on Film"},"content":{"rendered":"<p>Will US citizens wake up when they see the new film, &#8220;The Big Short,&#8221; which describes the origins of the subprime mortgage crisis?<\/p>\n<p>The mortgage crisis as primarily the fault of mortgage originators and mortgage securitization financiers, aided and abetted by the executives of the largest banks. \u00a0At the heart of this story is a court case in California where the defense successfully proved financial fraud was not committed by mortgagors<span style=\"color: #0000ff\">\u00a0<\/span>induced by mortgage issuers to sign &#8220;<em>lairs loans<\/em>&#8221; paper work. \u00a0Why? Because they were compensated for writing mortgages and securitizing them, not for the quality of the mortgages for repayment. \u00a0The perverse incentives built into the system created the crisis. \u00a0The &#8220;liars&#8221; were often victims of a Pied Piper system to which they were susceptible because of their financial naivety.<\/p>\n<p>he securitization process put purely junk mortgages into\u00a0AAA-rated securities based on the assumption that only 1% (the historical limit) would default. \u00a0When several times that previous limit occurred AAA-rated securities defaulted.<\/p>\n<p style=\"text-align: center\"><a href=\"http:\/\/www.w-t-w.org\/en\/31561\/mortgage-default-rate-history\/\" rel=\"attachment wp-att-31574\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-31574\" src=\"http:\/\/www.w-t-w.org\/en\/wp-content\/uploads\/2015\/12\/mortgage-default-rate-history.png\" alt=\"mortgage-default-rate-history\" width=\"801\" height=\"572\" srcset=\"https:\/\/www.w-t-w.org\/en\/wp-content\/uploads\/2015\/12\/mortgage-default-rate-history.png 801w, https:\/\/www.w-t-w.org\/en\/wp-content\/uploads\/2015\/12\/mortgage-default-rate-history-300x214.png 300w, https:\/\/www.w-t-w.org\/en\/wp-content\/uploads\/2015\/12\/mortgage-default-rate-history-420x300.png 420w\" sizes=\"auto, (max-width: 801px) 100vw, 801px\" \/><\/a><\/p>\n<p style=\"text-align: center\">\n","protected":false},"excerpt":{"rendered":"<p>Will US citizens wake up when they see the new film, &#8220;The Big Short,&#8221; which describes the origins of the subprime mortgage crisis? The mortgage crisis as primarily the fault of mortgage originators and mortgage securitization financiers, aided and abetted &hellip; <a href=\"https:\/\/www.w-t-w.org\/en\/31561\/\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":22,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[70,22],"tags":[],"class_list":["post-31561","post","type-post","status-publish","format-standard","hentry","category-big-banks","category-corruption"],"aioseo_notices":[],"aioseo_head":"\n\t\t<!-- All in One SEO 4.9.10 - aioseo.com -->\n\t<meta name=\"description\" content=\"Will US citizens wake up when they see the new film, &quot;The Big Short,&quot; which describes the origins of the subprime mortgage crisis? The mortgage crisis as primarily the fault of mortgage originators and mortgage securitization financiers, aided and abetted by the executives of the largest banks. At the heart of this story is a\" \/>\n\t<meta name=\"robots\" content=\"max-image-preview:large\" \/>\n\t<meta name=\"author\" content=\"Adela Rogers\"\/>\n\t<link rel=\"canonical\" href=\"https:\/\/www.w-t-w.org\/en\/31561\/\" \/>\n\t<meta name=\"generator\" content=\"All in One SEO (AIOSEO) 4.9.10\" \/>\n\t\t<meta property=\"og:locale\" content=\"en_US\" \/>\n\t\t<meta property=\"og:site_name\" content=\"W-T-W.org - Women and Finance\" \/>\n\t\t<meta property=\"og:type\" content=\"article\" \/>\n\t\t<meta property=\"og:title\" content=\"Subprime Mortgage Crisis Revisted on Film - W-T-W.org\" \/>\n\t\t<meta property=\"og:description\" content=\"Will US citizens wake up when they see the new film, &quot;The Big Short,&quot; which describes the origins of the subprime mortgage crisis? 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