Posted on 20/08/07
'The bad news is likely far from over'
TORONTO -- Asked how thousands of Americans with bad credit histories who defaulted on their debts ended up roiling the global international financial markets, Benjamin Tal, a senior economist with CIBC, explains it this way: Borrowers with a murky financial history in the U.S., who were rejected by traditional sources of credit such as banks, turned to other companies that engage in so-called "subprime" or second-chance lending.
The full text of this article has 637 words.
To continue reading this article, you will need to purchase this article.
Already have a member account? Login now
Pay-Per-View Offers To read the complete article, select one of the following options
Purchasing from globeandmail.com is quick and secure.
