Sunday, July 20, 2008
With the bailout of sub prime mortgage holders like Countrywide and IndyMac and probably Fannie Mae and Freddy Mac coupled with a lack of assistance to homeowners, the NYT reports that "Borrowers should shoulder the consequences of signing loan documents they didn't understand, but with punishing terms that quickly made the loans unaffordable. But for executives and directors of the big companies who financed these loans, who grew wealthy while the getting was good, the taxpayer is coming to the rescue."
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