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by shiftpgdn
1798 days ago
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Because they don’t care. The loan is collateralized and sold as a financial instrument and the bank is no longer involved. The loan holders should care but the loans are owned by hundreds or thousands of organizations and individuals who don’t have the mechanism to see what the underlying assets in their financial instruments are doing. The movie “The Big Short” actually does a great job of showing this but for the 08 financial crisis. |
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