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Anatomy of a Banking Scandal growthbr Exam Board: AQALevel: GCSESubject: GermanFirst

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Exam Board: AQALevel: GCSESubject: GermanFirst teaching: 2016First exams: 2018

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Anatomy of a Banking Scandal growthbr Exam Board: AQALevel: GCSESubject: GermanFirstIn the early 1990s, the First National Bank of Keystone in West Virginia began buying and securitizing subprime mortgages from all over the country, and quickly grew from a tiny bank with just $100 million in assets to over $1. 1 billion. For three years, it was listed as the most profitable large community bank in the country. It was all a fraud. All of the securitization deals the bank entered into lost money. To hide that fact, bank insiders

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