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Politics : Politics for Pros- moderated
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To: arno who wrote (271951)10/2/2008 3:16:56 PM
From: KLP  Read Replies (3) of 793938
 
There are several points. If a public company (i.e. WaMu, or Bear Stearns, for instance) sells shares of stock to investors, and has not been truthful about the actual money backing their loans, that is illegal. And fraud.

Another point is finding the cause of the problem. Fannie Mae, Freddy Mac, Congress with no oversight, or ignoring oversight, Congress for making it illegal NOT to give loans to people who couldn't pay for them....Banks for allowing the loans to those same people, and the people themselves...who had no way to pay for the loans, and thought it was a giveaway.
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