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Home of the ‘Ninja Loan’

August 22, 2007

In South Africa, Albuquerque is to blame for the U.S. subprime loan debacle — kind of.

About 18 months ago some wide boys in Albuquerque, New Mexico, decided to provide a housing loan to someone who had no income, no job and no assets – a Ninja loan. And now my pension is worth substantially less than it was a few months ago. So much for globalisation.

Globalization? No, no. It’s Burquezation. C’mon! Get it straight.


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