An Economy Built On Lies by Gary NorthQuicklink submitted by Laudyms Permalink
|By now, the term 'liar loans' is common. Prospective house buyers provided false information to representatives of loan-initiating firms. The loan-initiators winked at the practice. Their well-compensated job was to pass on the paperwork to a government-created agency, who then sold to investors and hedge funds. From start to finish, from top to bottom, the entire structure was based on lies. No one worried about it.|
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