I recently re-watched this excellent CNBC Original program on the origins of the current economic decline. House Of Cards explains how over-leveraged mortgages were propagated, how these mortgages were packaged by Wall Street and resold internationally, and finally how they led to the decline in real estate prices that caused an unprecedented world-wide credit crisis. [...]

Business · Due diligence · Financial services · Mortgage · Real estate · Refinancing · United States · Wall Street

A recent series of experiments conducted by Chen-Bo Zhong of the University of Toronto suggests that people with an option to treat someone fairly or to lie to a person and gain at that person’s expense choose to be more honest when instructed to trust their gut feelings instead of thinking the situation through rationally. [...]

Business · Economy · Financial services · Loan · Mortgage · Mortgage loan · United States · University of Toronto