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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?


To: energyplay who wrote (180102)1/27/2009 11:02:42 PM
From: ajtj99Read Replies (1) | Respond to of 306849
 
Wachovia had the pay option ARM's, which make sub-prime look like prime.

Wells Fargo got the government to allow them to write off all the bad pay-option ARM's, so they took it on regardless of the $45-billion hit.