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Games as a Service (Off-Topic)

by Anton P. Nym (aka Steve) ⌂ @, London, Ontario, Canada, Wednesday, September 24, 2014, 15:53 (3504 days ago) @ car15

There's also the amazingly perverse incentive of "tranching" that meant lenders didn't have to hold the loans they offered and therefor wouldn't face the consequences of defaults. In the modern parlance, they had "no skin in the game"; every reason to make loans hither-and-yon to resell and no reason to worry about borrowers' ability to repay.

-- Steve thinks it's a bit much to expect home buyers (particularly first-time buyers) to be able to decypher those amazingly complex instruments. (And it didn't help that a lot of the brokers had no incentive to wave 'em off of sub-primes.)


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