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Politics : The Obama - Clinton Disaster
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To: GROUND ZERO™ who wrote (10063)3/28/2009 11:35:31 AM
From: Kenneth E. Phillipps  Read Replies (4) of 103300
 
Were banks forced to make loans without verifying income? Absolutely Not! Mortgage lenders made money by making fraudulent loans because those loans could be securitized and sold to unsuspecting buyers. It was the securitization of those loans and the credit default swaps that insured those loans without insurance reserves that created the problem.
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