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JJB ~ you're right on. The average American doesn't understand a basic mortgage contract. BUT, wasn't it 'America's best and brightest' that came up with these toxic mortgages to fleece the average American? If they were sold basic mortgages (with down payments and verified income) we may not be in this mess.
Feb 04 17:20 pm
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All Comments by user 2lakes »Meredith Whitney Needs Some Historical Perspective [View article]
Seems like putting the fox in charge of the hen house.