“Ninja” Loans. During the housing boom, overeager lenders were said to have made “ninja” loans—that is, loans to individuals with “no income, job, or assets.” How did ninja loans contribute to the...

“Ninja” Loans. During the housing boom, overeager lenders were said to have made “ninja” loans—that is, loans to individuals with “no income, job, or assets.” How did ninja loans contribute to the securitization crisis in financial markets in 2007 and 2008? (Related to Application 4 on page 294.)