Thursday, March 27, 2008

New Century

New Century Financial, Subprime Lending Company
One of the first and largest subprime lenders to go bankrupt. As you might expect, stories surfaced about loose lending standards and the use of baseball bats to secure loan approvals. Funny how you didn't hear those stories while everyone was collecting a paycheck.

Baseball bats and Bad Accounting, it's all good!

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