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US Government takes over mortgage giants

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Old 09-08-2008, 07:42 AM   #3
That Guy
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Re: US Government takes over mortgage giants
the reason they're in such horrible straits is due to thousands of individual neg am. mortgage salesmen selling bad loans (which the financial sector encouraged, or at least turned a blind eye) and the huge bonuses given per loan (up to 30-40k PER mortgage contract).

those guys are obviously out of business now, but they got their money before it burst.
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