LEADING WITH LOVE IN A FEAR- BASED WORLD

摘要

In the poor neighborhood where I was raised, as in so many communities in the country, petty thugs preyed on individuals, but white-collar criminals in fancy suits also preyed on people's ignorance. Individuals with a low level of basic financial knowledge were and continue to be easy targets for what I call bad capitalism.rnFor example, during the recent subprime lending boom, people making $25,000 a year were lured by unscrupulous brokers and lenders into taking out $500,000 loans with low initial teaser rates that reset much higher-to levels they could never afford. At one point, my own family lost its home to a predatory lender.