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#7 | |
Silent Hunter
![]() Join Date: May 2008
Location: Storming the beaches!
Posts: 4,254
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![]() Quote:
What I fail to understand is how private banks are still seen as the causation of all this. Fannie and Freddy were by far the biggest subprime lenders, the state requires banks to give loans to subprime customers in some cases, and the Fed made subprimes the only reasonable approach to profitability by keeping the interest rates so low for so long.
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