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Politics : MITT ROMNEY
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To: Shoot1st who wrote (1790)2/14/2008 2:46:17 PM
From: Augustus Gloop  Read Replies (1) of 5586
 
I agree that mortgage brokers (like Countrywide) were some of the biggest offenders. But as Oral pointed out, the big national banks moved in quickly and engaged in bad lending practices as well. I remember when Greenspan came out and said ARM's were a great deal for borrowers. I could not believe he said that when fixed rates were at or near historic lows. We never bit on the ARM loans because my thought was that an ARM may cost you a leg as well <g>
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