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Politics : American Presidential Politics and foreign affairs

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To: TimF who wrote (39996)	12/29/2009 4:07:03 AM
From: DuckTapeSunroof	Read Replies (1) of 71588

"The crisis wasn't just an issue of a bubble." Correct. There was MAJOR FRAUD connected to the bubble/bust ALSO. "The basic S&L model, as regulated, couldn't cope with the inflation of the 70s." Wrong. Perhaps the boring but safe and stable 'old' model of business for the Savings and Loans didn't provide as much opportunity for Fraudsters to rip off their investors and the taxpayers, (like the 'new model' sure did), but the S&Ls survived the 'seventies quite well, thank you very much! "The government payouts mostly happened after the industry started collapsing." No kidding! (That's what I said.)

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