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  • Big Banks in Trouble: Huge Mortgage Write-Downs Seem Inevitable [View article]
    I don't view Gill's decision as a huge moral hazard. The hazard occurred because the banks lent under such ridiculous terms, at the insistence of the government, at rates determined by the Fed. They agreed to take the homes as collateral- let them choke on them. The only difference between Gill and the banks, is that the banks have the US Taxpayer to cover their defaults.
    Glad JPM paid back TARP. All is right in the world.
    Jun 22 23:43 pm |Rating: +9 -6
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