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Economy - Economics USA

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WashingtonPost.com

Warren Buffett, had warned years before that "derivatives," whose value was balanced loosely on the real assets underneath, were the equivalent of "financial weapons of mass destruction."

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CalculatedRisk.blogspot.com

Five months ago, the Ellicott City home was appraised at $560,000; the lender says it is now worth $469,000. "I told them, you guys are wrong," Nancy Corazzi said. "They said, 'sorry, this is what we're doing....

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Michael Shedlock / Mish

"The market is full of rumors of unwinding of CDOs, and the price action suggests that people believe the rumors, It sort of has that Armageddon feel, and the market is feeding on itself."

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