This morning on the news I heard a guy say that the current bank failures we're experiencing are collateral damage from the all the people who’ve defaulted on their home loans.
PREMISE1: The bank lends money to the people, against the value of a house
PREMISE2: The people default on the loan
PREMISE3: Same time, the value of the house drops below the outstanding balance on the defaulted loan
2 comments:
The term "collateral damage" came from the US military - the same folks who brought us "friendly fire". Also very funny.
thanks for explaining to us why that is funny
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