They have used their amazing Washington DC lobby over the last 3 decades to get to the place where Chairmen of Investment Banking companies now run the Treasury and the ministerial Reserve. Foreclosure has been an absolute loss since none of these homes are worth as much as homeowner owes. REO and subtracting this sale price from the note face value creates an absolute loss and is paid by FDIC or some another government or CDS insurance loss subsidy. OK let me reel in my once more. Lets people keep their homes and pay more… Read Article →
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