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Let's Punish the Victims !!
The newest thing in Congress in the area of Housing is the QRM. To me QRM = lets punish the victims. Who are the victims? You and I and every home owner in the country. Lets review.
In the 90's and into the early 2000's a tremendous amount of money found it's way into our country. America was considered a safe haven for funds. Both Greenspan and Bernacki told us not to worry. It was normal for people to want to invest here. But as usual a lot of cash caused problems. What that cash did was create debt. How can cash create debt? Easy. If there is 100k available at good interest rates somebody will borrow it for a mortgage . So there is now a 100k debt. Multiply that by billions.
Billions were invested in the housing market. When you have this kind of money both domestic and foreign pouring in you have inflation. But in our case we had more. We had easing of borrowing rules. We had all kinds of weird and wonderful ways to borrow for those who had no money. It wasn't enough to run up prices. There was so much money that we had ... more

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