{"id":405,"date":"2010-07-15T09:46:09","date_gmt":"2010-07-15T13:46:09","guid":{"rendered":"http:\/\/www.multiplier-effect.org\/?p=405"},"modified":"2010-07-15T09:46:09","modified_gmt":"2010-07-15T13:46:09","slug":"weve-had-the-tragedy-is-this-the-farce","status":"publish","type":"post","link":"https:\/\/blogs.bard.edu\/multiplier-effect\/weve-had-the-tragedy-is-this-the-farce\/","title":{"rendered":"We&#8217;ve had the tragedy. Is this the farce?"},"content":{"rendered":"<p>The Wall Street Journal <a href=\"http:\/\/online.wsj.com\/article\/SB10001424052748704746804575367172177309754.html?mod=WSJ_hps_editorsPicks_1\">reports<\/a> on signs that risky lending is once again on the upswing. For example:<\/p>\n<blockquote><p>Credit-card issuers mailed 84.8 million offers of plastic to U.S.  subprime borrowers in the first six months of this year, up from 43.7  million a year earlier, estimates research firm Synovate. Nearly 8% of  loans for new cars in the latest quarter went to borrowers with the  lowest range of credit scores, up from 6.2% in 2009&#8217;s fourth quarter,  according to J.D. Power &amp; Associates and Fair Isaac Corp.<\/p><\/blockquote>\n<p>The lenders say they&#8217;re being careful&#8211;really!&#8211;and of course things aren&#8217;t as bad as they once were. But there are disturbing anecdotes of people who are essentially broke getting credit-card solicitations, and apparently these aren&#8217;t isolated incidents:<\/p>\n<blockquote><p>Kathleen Day, a spokeswoman for the Center for Responsible Lending, said  the consumer group is &#8220;seeing banks re-enter the subprime market at a  steady clip and make loans to borrowers who don&#8217;t have the ability to  repay.&#8221;<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>The Wall Street Journal reports on signs that risky lending is once again on the upswing. For example: Credit-card issuers mailed 84.8 million offers of plastic to U.S. subprime borrowers in the first six months of this year, up from 43.7 million a year earlier, estimates research firm Synovate. Nearly 8% of loans for new [&hellip;]<\/p>\n","protected":false},"author":212,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[55,54],"class_list":["post-405","post","type-post","status-publish","format-standard","hentry","category-financial-crisis","tag-bankruptcy","tag-consumer-credit"],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/posts\/405","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/users\/212"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/comments?post=405"}],"version-history":[{"count":1,"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/posts\/405\/revisions"}],"predecessor-version":[{"id":406,"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/posts\/405\/revisions\/406"}],"wp:attachment":[{"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/media?parent=405"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/categories?post=405"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/tags?post=405"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}