the idea subprime/non recourse loans caused americas crash is a FURPHY. As with ireland and spain, investors stopped listening to savvy advice and reassurance from experts and turned into pannicked SCAREDYCATS when DOOMSAYERS like losers peter schiff and harry dent crawled out of the woodwork spouting NEGATIVITY. If only the americans held their nerve during the GFC the value of their properties would have doubled instead of halving since.
