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Livinglies's Weblog

Underwater home mortgage. by William Hudson

When borrower credit requirements are lowered, housing prices rise in response.  Flat wages and an employment market composed of part-time jobs paying minimum wage should inhibit home ownership- but, alas, Wells Fargo has a solution!  In fact- it’s the same solution they had back in the early 200s when they gave out loans to unqualified buyers, knowing the loans would fail, and then bet against their own investments- while knowing future government (tax payer) subsidies would fund any claims of “loss”.  It was one of the most perfectly orchestrated criminal schemes ever perpetuated on the American public- that continues to this day.

The second wave of the market crash has now appeared on the horizon and with a slow down in the real estate market- the Fed and the Banks must again resort to drastic measures to incentivize prospective buyers into the market. The nation’s largest lender,

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