Moral Outrage
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Posts Tagged ‘toxic assets

The beginning of a fullblown banking crisis

August 11, 2011

Let’s say Joe Blow bought a house in 2005 for $400,000 believing the hype that “Housing prices can only go up”. But by 2008, Mr Blow is underwater because housing prices have dipped and his house is only worth $300,000. Even worse, he has to put his house on the market fast because he just […]