SFist: Ask SFist -- Subprime?

iris

Mon, 31 Dec 2007 16:17:30 -0800

Buyer: That's great. I'm an American and so I believe I can get something for nothing, and also in faeries and unicorns. Do you also sell those? Broker: yes. [hits on head with brick] BRILLANT.

zig

Mon, 31 Dec 2007 16:12:42 -0800

I think you are conflating subprime with the teaser adjustable rate mortgages they often got Subprime=bad credit

zig

Mon, 31 Dec 2007 16:10:47 -0800

I don't want to question your ivy-league brain here but sub-prime is actually people with bad credit getting loans What is described in the skit above is simply an adjustable rate "teaser" mortgage which may or may not be of the subprime variety

suckafree

Mon, 31 Dec 2007 14:26:24 -0800

here's a great article about how it all started in the OC. isn't that where Brock is from? http://www.ocregister.com/business/how-subprime-lending-1950724-all-started

RinconHillSF

Mon, 31 Dec 2007 13:29:48 -0800

Anybody know of a place where I can get an advance on my paycheck?

Tendernob

Mon, 31 Dec 2007 13:17:48 -0800

"Subprime" is just a euphemism for loan-sharking, and it's the most profitable niche of the financial industry. They're non-fixed mortgage rates typically made to people with low income or tarnished credit. They are sold at an alarming rate in numerous forms, and are a major cause of the foreclosure crises, yet are perfectly legal. I did not need a profane email query to know that. (patting self on back) The financial industry's best customers are the broke and the bankrupt, and subprime is just another example of that.