REO and subtracting this sale price from the note face value creates an absolute loss and is always paid by the FDIC or some next government or CDS insurance loss subsidy. These same bankers could’ve chosen another route. Then the payday for running a Administration is always truly in administrations aftermath failure to the US citizens. OK let me reel in my once again. Accidentally the banks got caught up in their own executives/controlling shareholders hyper greed. Recasting ‘subprime’ predatorial notes at 90percent NPV in addition helps banks to receive subsidies for the losses. Definitely,… Read Article →
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