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Seattle Bubble Forum Archive • View topic - Cover Up by Investment Bankers; Shocking Story

Cover Up by Investment Bankers; Shocking Story

Myth propagated by bitter ignorant renters, or statistical reality ignored by real estate professionals?

Moderators: synthetik, The Tim, Lake Hills Renter

Cover Up by Investment Bankers; Shocking Story

Postby TJ_98370 » Tue May 27, 2008 9:10 am

.


Now that millions of people are facing foreclosure because they got into loans that never should have been approved, everybody's looking for someone to blame. Borrowers, or their brokers, lied on loan applications. Others got high interest rates they couldn't afford.

A big unanswered question is whether the Wall Street investment banks that were packaging these mortgages knew they were selling garbage loans to investors. A wave of litigation is starting against these firms. One former worker whose job was to catch bad loans says her supervisors covered them up....
TJ_98370
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Taking the blue pill now.

Postby siddha99 » Mon Jul 21, 2008 10:25 pm

Taking the blue pill now.
Last edited by siddha99 on Wed Jul 23, 2008 7:28 pm, edited 1 time in total.
siddha99
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