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An Economy Built On Lies by Gary North

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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.

Read the rest of the story HERE:

At www.lewrockwell.com

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