July 9th, 2004

Was just looking back over old FinanceProfessor.com newsletters (wish I had time to bring them back), and found this from July 9th, 2004." Fed Governor Edward M. Gramlich gave a great talk on the subprime mortgage market. This market, which is relatively new but has grown sharply, deals with making loans to those that are seen as being high credits risks. On one hand these loans “created new