So where did this financial crisis start?

October 23rd, 2008

So where did this financial crisis start? Well it will all end with the debt negotiation industry. It all started with the real estate boom about 6 years ago, in particular the sub-prime mortgage market. There were incalculable amounts of U.S. residents who were getting home loans that had no business getting them in the first place. Plus you toss in the issue that there were scandalous mortgage dealers trying to earn some money off of these unknowing targets. The aftermath of this situation is now there are record numbers of homeowners are losing their homes. This spells disaster for the market and has trickled down to affecting many other financial industries. The credit industry has been tightening up and as a result charging these people elevated interest rates. Now we are experiencing major problems in the banking industry too with the bankruptcy of Washington Mutual. In turn this banking plague negatively affects the NASDAQ.