A problem with mortgage-backed securities was that ______.
a. they were too mathematically complicated for the average banker to understand
b. the relationship between the borrower and the holder of the loan was totally disconnected
c. average citizens were basing their home mortgages on complicated financial products
d. they became too popular as a tool for financing high-valued properties
b. the relationship between the borrower and the holder of the loan was totally disconnected
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The U.S. Founding Fathers recognized that a free press is an independent conduit of information that is essential to making a representative democracy work
Indicate whether this statement is true or false.
The U.S. Chamber of Commerce and the National Association of Manufacturers (NAM) are known as umbrella groups because they
A) use lobbyists, who are said to offer protection for "rainy days". B) combine with other types of interest groups, such as public interest groups and professional organizations, in order to achieve their objectives. C) address environmental concerns, especially the issue of acid rain. D) represent certain types of businesses or companies that deal in a particular type of product. E) are based in the Pacific Northwest, where rainfall is a frequent occurrence.