Who's Getting Paid During the Subprime Crisis?

Wouldn't we all like to know the answer to this big question? Even Indian economy is affected by this enigmatic subprime crisis!

What exactly is Subprime crisis? How it started? Who is responsible for its origin?

Newspapers scream that only the U.S people are responsible for this world economic crisis. There may be some truth in it but I don't think they alone should take the blame.

Then who else should take the blame?

Traditional industry consensus is that consumers typically pay their bills according to a certain hierarchy. The subprime mortgage dilemma, however, has facilitated an emerging trend in consumer payment prioritization. This white paper details Equifax research that examines how prevalent this reprioritization is and provides insight into the type of consumers who exhibit this behavior.

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