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The Next Great Mortgage Disaster

Thursday, August 13, 2009, 1:39 PM
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While the press has been excited by a recent uptick in home sales, much of the activity can be directly tied to an incredibly irresponsible federal mortgage program that puts the prior Fannie Mae and Freddie Mac shenanigans to shame.

This next article, from the WSJ online edition, needs to be quoted from extensively, because it is so packed with essential information.

 

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