Dissatisfaction guaranteed


Dissatisfaction guaranteed

The US federal government guarantees loans in order to induce banks to lend money to credit-risky borrowers. If the borrower defaults, the government reimburses the lender for either the entire loss, or a large fraction of it. With this guarantee behind them, banks are willing to lend money to high-risk borrowers, and are also able grant more favourable terms to normal-risk customers.

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