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Accidentally the banks got caught up in their own executives/controlling shareholders ‘hypergreed’. They have used their amazing Washington DC lobby over last 3 decades to get to the place where Chairmen of Investment Banking companies now run the Treasury and governmental Reserve. Foreclosure has been an absolute loss since none of these homes are worth as much as homeowner owes. These same bankers could’ve chosen another route. Considering the above said. OK let me reel in my once more. Recasting sub prime predatorial notes at 90 NPV makes the banks to receive subsidies for the… Read Article →
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