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REO and subtracting this sale price from note face value creates an absolute loss and has been paid by FDIC or some another government or CDS insurance loss subsidy. These same bankers could’ve chosen another route. Foreclosure is usually an absolute loss since none of these homes are worth as much as homeowner owes. OK let me reel in my once more. In reality, they have used their amazing Washington DC lobby over the last 2 decades to get to the place where Chairmen of Investment Banking companies now run Treasury and governmental Reserve. Generaly,… Read Article →