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Reader comment on:
Homeowner Equity Hits All-Time Low, Fed Says

Submitted by Thomas D O'Rourke, Mar 6, 2008 13:14

Unfortunately, most Americans are financially illiterate. Their liability (mortgage) is the banks asset, soon to be marked "non-performing" which is game over for banks.

MBS/CDO's etc. I wonder what MBA program taught these Wall St. wunderkinds that if you mixed arsenic into an institutions meal, somehow it wouldn't be arsenic anymore.


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I am in the construction business myself, not much by choice but due to the Reagan Revolution..or Counter Revolution. But... [MORE]

datadave

Mar 7, 2008 05:53

Unfortunately, most Americans are financially illiterate. Their liability (mortgage) is the banks asset, soon to be marked "non-performing" which is...

Thomas D O'Rourke

Mar 6, 2008 13:14

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