Quote:
Originally Posted by Rick Lee
Slide 18 is egregiously vague and has nothing to do with lenders, but rather secondary market investors.
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Rick, if it only had to to with Lenders, this would be a run-of-the-mill S&L bailout a la Neil Bush, paid for by you and me with taxes.
that's only the subplot to the story. It's the secondary market investors that ballooned it up to a worldwide crisis by fraudulently marketing these junk securities.