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News Link • Corruption

New Proof Wall Street Knew Its Mortgage Securities Were Subpar: Clayton Execs Testify

• Huffington Post
During a little-noticed hearing this week in Sacramento, Calif., a firm hired by Wall Street to analyze mortgages given to borrowers with poor credit, which were then packaged and sold to investors during the boom years, revealed that as much as 28 percent of those loans failed to meet basic underwriting standards -- and Wall Street knew all along.

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