Ethical Dilemmas within the U.S. Mortgage Crisis From : Sarkis Ktakyan 3784 Valleybrink Rd Los Angeles, CA 90039 To: JPMorgan Chase & Co. 270 Park Avenue New York, NY 10017-2070 Dear Stakeholders, Recent high-risk mortgage lending by most major banks, including Chase, significantly raised the financial risks for all parties from title companies to construction workers, but most especially, homeowners. The risky ventures in lending were well intended, to help more families achieve the ‘American dream’ of homeownership. Unfortunately, homeownerships that begin with subprime mortgage purchases are six times more likely to be foreclosed than homeownerships that begin with prime mortgage purchases ( Gerardi , 2007, 02). Consequently, the...The end:
.....//www.marketwatch.com/story/foreclosures-top-record-in-2009-no-end-in-sight-2010-01-14>. Leroy, Michael. “The inequality of sacrifice – Reducing moral hazard for bailed-out homeowners: The case for compulsory community service.” University of Illinois College of Law, Law and Economics Working Papers, 104. 2009. Accessed 29 January 2010. < http://law.bepress.com/cgi/viewcontent.cgi?article=1103&context=uiuclwps>. Adelson , Mark & Jacob, David. “The Subprime Problem: Causes and Lessons.” Journal of Structured Finance. 14.1(2008): 12 – 19. Rand Corporation. "Housing Foreclosure Statistics 2009." RAND Website. Accessed 28 January 2010. Rozeff , Michael. "The Subprime Crisis and Government Failure." New York: LewRockwell , 2008.