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Friday, August 17, 2007 12:00 AM

Panic on Wall Street

You've heard about the home-loan bust, but do you know your derivatives from your tranches? Read Salon's easy guide to understanding the current market freakout.
By Andrew Leonard

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  • Friday, August 17, 2007 05:59 AM

    A nice trick that some lenders are doing

    Is to give you a home equity loan on your existing home in order to have the down payment on your new home. But this is Salon so we have to blame The Man for all of this. People are children and can't be expected to act responsibly.

    —Anonymous

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