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Politics : View from the Center and Left

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To: Bread Upon The Water who wrote (229052)	8/9/2013 11:33:30 AM
From: Sam	Read Replies (4) of 542617

You are simply wrong about this. Do I have to shout what the graphs are showing you?! THE GUYS WHO WERE BUYING THESE SUBPRIME LOANS WERE THE INVESTMENT BANKS THAT WERE CHOPPING THEM UP INTO THEIR RESPECTIVE TRANCHES AND THEN RESELLING THEM TO PEOPLE WHO WERE STRETCHING FOR YIELD!!!! IT WAS THE SECURITIZATION OF LOANS, STUPID!!! It wasn't Fannie and Freddie who were buying most of these things. THEY WERE LOSING MARKET SHARE WHEN THE BUBBLE WAS REALLY STARTING TO TAKE OFF!!! Enough of this. It is right there, you are simply refusing to see the reality. It is like I am saying, "The sky is blue" and you are saying, "No, the sky is red." But guess what, the sky is blue, and it was the securitization guys who were buying the vast majority of those loans, not Fannie and Freddie.

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