Massive Payment Delinquencies Started Financial Crisis

The very very short and sweet answer as to how America’s real estate  market and overall economic Financial Crisis started is as follows.

1. Excessive Consumer Borrowing and Spending combined with

2. Irresponsible, Immoral, Unethical and Illegal Lending lead to

3. Massive Payment Delinquencies which lead to

4. Very serious Real Estate and overall Economic Financial Problems which

5. Collectively represent America’s Financial Crisis

Respectfully

Phil Mitsch