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IPFS News Link • Housing

Moody's Downgrades $1.9 Trillion Of Subprime RMBS

• ZeroHedge.com
 
Good thing the FASB has allowed all this worthless paper to be carried at par or else we might all realize just how the market trades on vapors, myth and lots of hope. But at least Obama's campaign was based on a promise of transparency. Instead we are getting a Value Added Tax.

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