These same bankers could’ve chosen another route. Foreclosure is an absolute loss since none of these homes are worth as much as homeowner owes. REO and subtracting this sale price from note face value creates an absolute loss and was probably paid by the FDIC or some other government or CDS insurance loss subsidy. Accidentally banks got caught up in their own executives/controlling shareholders hypergreed. That’s evidenced by the fact that guys from Clinton Bush administrations have probably been helped to purchase failed banks with got money guaranteed to create massive returns by US Government…. Read Article →
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