This article is written and owned by Frank Beck
A quick dollar devaluation would work wonders for submerged borrowers. Don’t kid yourself: It could happen.
What began as government social tinkering–with implied threats to banks and mortgage companies to extend home loans to even the most marginal of borrowers–led to a greed-blinded mortgage banking business and the meltdown we are experiencing today. Now we are asked by the same congressional leadership to go along with taxpayer-funded bailouts of the very banksters who, while making millions, created the mess.
Read the entire story http://www.forbes.com/2008/12/09/dollar-devaluation-gold-pf-ii-in_fb_1209soapbox_inl.html
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