Financial Literacy and the Subprime Mortgage Crisis

The housing crisis began a trend of higher cost subprime mortgages that average homeowners couldn't afford. But did a lack of understanding of the creative mortgage terms boil down to fundamental literacy in basic math? Dr. Kris Gerardi, an economist at the Federal Reserve Bank of Atlanta thinks so. Join us on the show as Gerardi explains what simple math has to do with financial literacy and homeownership. Software developer and financial literacy advocate John Beneventi will also join the conversation.