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How the Free Market Mortgage Bond Scam Works

posted March 29, 2009 - 8:43am
How the Free Market Mortgage Bond Scam Works

This is a great little article by Michael Hudson about how the US government is un-freezing the credit markets by gifting money to the banks.

Astonishingly - OK, not so astonishingly - the few banks left are setting their own prices for their own, or each other's, toxic debts while getting the US government to pay 85% of this fictitious price. Nice scam! Not so great for US taxpayers.

Can mortgage holders expect the same kind of benefits?

Market Noise

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Website: http://market-noise.blogspot.com/2009/03/how-free-...


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