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Originally Posted by jazz4cash
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Just finished reading, "It's not 1929, but It's the Biggest Mess Since." Steven Pearlstein wrote an excellent article that rings with truth. He concurs with Eric Petroff in, "Who is to Blame for the Mortgage Crisis," in so far that the role of borrowing to purchase CDO's seriously exacerbated the problem in more ways than one. This is the first time I've heard the term, "tranches." Now I have a better understanding of the problem. This article helps to reinforce my decision to sell our San Diego house in the Summer of 2006. The more I learn about the "mess" we're in, the more I wonder when prices will ever reach that inflated level again.
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