Subprime Loans, Foreclosure Rates, The Media and Madison Avenue
One thing that I find amazing is that while the media pundits constantly remind us of the sub-prime meltdown, the bursting of the housing bubble, the record number of foreclosure filings and the general doom of the overall real estate market and U.S. economy, they have no problem accepting new advertising from Countrywide, Quicken, DiTech and other mortgage lenders.
Read this article from Saturday's New York Times.
Consumer advocates say many ads are at best misleading and at worst steer consumers into risky loans with promises of low introductory rates that do not make clear that they could pay significantly more in a few months or years.
Tags : 
subprime : 
mortgage : 
foreclosure : 
media : 
TV : 
advertising
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