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Re: Maybe Cramer DOES get it?
I agree with Leeb06. Money was lent with little or no collateral to people who should never have received a loan. However the temptation of huge fees overshadowed creditworthiness. The fed played no role in this and a bail out would only save those that should lose money. We should have seen this coming when Ditech had a TV commerical that said getting a mortgage was easier than ordering a pizza.
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