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For me, the real bottom line is that lending institutions should be using much more conservative criteria in determining the size and terms of loans folks "qualify" for. So conservative that even 10% - 20% swings in appraised value of a home don't cause the lender to change the terms of the loan.
My hope in the current lending crisis was that the government would allow lending institututions to suffer enough before any bailouts that the lending institution management would regret the day they were born. Apparently not going to happen, at least not to the extent I would have liked. Somehow the big bux guys at the top of the food chain always seem to dodge the bullet.
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DW paddling the Kankakee River........
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