The Watchdog That Didn't Bark by Dean Starkman

Author:Dean Starkman
Language: eng
Format: epub
Tags: LAN008000, Language Arts and Disciplines/Journalism, SOC052000, Social Science/Media Studies
Publisher: Columbia University Press
Published: 2014-01-06T16:00:00+00:00

As we’ll see, precisely this dynamic was to occur during the era of mortgage lawlessness that took hold, on a vastly greater scale, in the 2000s.

What the regional reporters such as Hudson understood was that informational asymmetries are much more profound in the subprime market than those found among prime borrowers, who themselves are often lost in the stack of paperwork to be signed at closing and the many moving parts of a typical mortgage. Lenders, after all, are the professionals in the transaction, and borrowers, the amateurs.

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