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Registered
Join Date: Nov 2003
Location: West of Seattle
Posts: 4,718
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As a footnote, Liar's Poker (Michael Lewis) documents the crash of the 80's, published in the early 90's. Want to know the scary part? It was the same thing -- collateralized mortgage obligations rated by Fannie/Freddie, sold and re-sold in a money-frenzy.
Anyone want to bet we'll be playing this game again in 20 years ... and people will still be surprised then?
Dan
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