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Technology Stocks : Semi Equipment Analysis

SOXX 328.78

+2.9%

Jan 9 4:00 PM EST

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To: michael97123 who wrote (38151)	2/15/2008 9:35:07 AM
From: Woody_Nickels	Read Replies (1) of 95703

Even an average guy knows you don't buy a $400K house with no money down and with a $30K/yr job. But that's what the banks were feeding people with ARMs. Spitzer talked about 'teaser' rates yesterday, and to me the teaser rate is just the "bait" in an ARM "bait and switch". ARMs don't cause problems when rates fall, as they did from 1980-2007. Only when rates go up are problems going to appear. And, boy have they appeared in the past year. Bait and switch is an illegal con game. The banks reaped profits from ARMs for many years, and now they should pay for their self-generated problems, not the taxpayer. JMHO Woody

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