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Alan Nasser: A Real-World Stimulus Plan

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opednews.com

Author 2451
The financial crisis was initiated by defaults on fraudulently inflated mortgage obligations. A direct approach would engage the problem of negative equity by acknowledging the disparity between the real value of the house and the size of the mortgage. This means writing down the mortgages to correspond to the real value of the house and the ability of the homeowner to pay.

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