Cold Fronts and Subprime Mortgages

Interesting short in the NYT, regarding the 4 things “they” learned about economics in 2007.  I was most surprised by 2 and 4—the facts that a significant number of subprime mortgages were approved due to fraud on the side of the applicants, rather than solely negligent actions on the part of the lenders, and the fact that cold weather kills more than 27,000 people in the US annually, and that a large amount of the increase in life expectancy in the past century can be explained by an increased concentration of people living in warm climates.

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