All the way up to, and then beyond, the peak of the housing market last summer it helped customers pile on debt, lending buyers who could not scrape together a deposit up to 125% of the value of a property.
The committee members say there has been a political shift since the Obama administration and Congress failed to come up with a more sweeping plan to deal with the nation's debt, lending more urgency to their work.
"The Dangers of Debt: Lending Weight," The Economist, September 14 , 2013
We need to do the same for clean electricity.Nicholas Dunlop Secretary-general The Climate Parliament LondonThe burden of debtSIR – In your Schools brief on debt ("Lending weight", September 14th), you wrote that the German word for debt, Schuld, also means sin.
If the name of the problem is too much debt, "lend more" hurts rather than helps.
To give you an example, LendingClub reached $75+ million per month in debt lending as a crowd funding platform in November 2012.
Unjust debt, says Scrivener, is often "dictator debt" – money lent by rich countries to poor countries ruled by strongmen, who commonly used it to finance military ventures or vast follies.
Unfortunately for the Cypriots, enough real money came in to finance some seriously bad investments, as their banks bought Greek debt and lent into a vast real estate bubble.
In Washington's running battles over taxes and spending, Mr. McCrery and his colleagues at Fix the Debt have lent a public-spirited, elder-statesman sheen to the cause of deficit reduction.
