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Banks and Other Institutions That Made Mortgage Loans Were the First

question 8

True/False

Banks and other institutions that made mortgage loans were the first sector of the financial industry to be hit by the financial meltdown in 2006-2007,largely because of mortgage-loan defaults.


Definitions:

Economic Deprivation Theory

A theory suggesting that crime and deviance are a result of economic struggle and lack of access to financial resources.

Status

The relative social, professional, or other standing of someone or something within a hierarchical structure.

Legal Drugs

Substances approved by law for use, which can include prescriptions, over-the-counter medications, and certain recreational drugs.

Illegal Drugs

Substances whose production, sale, or use is prohibited by law.

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