IMAGE
"OOPS!... bit of a foul-hook but never mind." 23 September, 2008
- Date
- 2008
- Reference
- DCDL-0007666
- Description
Shows Uncle Sam wearing woolly boots fishing through a hole in the cracking surface of New York - there are skyscrapers in the background. Behind him is a great pile of smelly expiring fish. He has inadvertently hooked the tail of an enormous many-toothed fish that can be seen through the surface and that represents 'subprime' lending but considers this not worth worrying about and contentedly continues to fish. Refers to the crashes of banks and other large financial institutions in the United States. In general, subprime lending (also known as B-paper, near-prime, or second chance lending) is lending at a higher rate than the prime rate. However, in US mortgage lending specifically, the term simply refers to loans that do not meet Fannie Mae or Freddie Mac guidelines. [O]ften defined ... as lending to borrowers with compromised credit histories")
Published in the Backchat column of Presto
Quantity: 1 digital cartoon(s).
- Use/Reproduction
- Please check copyright
- Access restrictions
- No access restrictions
- Part of
- Smith, Ashley W, 1948- :[Digital cartoons published in the Shipping Gazette, MG Business, or Presto]
- Format
- 1 digital cartoon(s), Works of art, Digital images, Cartoons (Commentary)
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"OOPS!... bit of a foul-hook but never mind." 23 September, 2008. Smith, Ashley W, 1948- :[Digital cartoons published in the Shipping Gazette, MG Business, or Presto]. Ref: DCDL-0007666. Alexander Turnbull Library, Wellington, New Zealand. /records/22377084More information can be found in our terms of use.