Problems like subprime mortgage and its danger towards banks were never taken very seriously.

Problems like subprime mortgage and its danger towards banks were never taken very seriously. Most thought that the housing crisis would not explode soon, but when it did everyone was shocked by the great number of consumers which became unable to fulfill their payments. Although this situation could have been avoided, unfortunately, has trapped many consumers and even banks. Ironically, the lessons taught from US subprime mortgage are very useful, but if not used when needed, are left and considered as an only theory.