A year on the problems have just begun. "Nothing can save people depermined to grow suddenly rich". This mess will eventually break the whole securitisation of risk scam. You can remove risk from the home buyer and seller equation, but all you do is fuel a bubble that creates a giant systemic risk down the line. Today subprime CDO's, tomorrow commercial real estate CDO's and the day after LBO's of public companies. Main problem, money isn't money anymore..
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