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Wednesday, February 1, 2012

Why Am I Confused? We Got Into Trouble Lending on Underwater Homes. Now We Want To Do More of It

Am I the only one confused? We got into trouble in the first place by making risky mortgage loans to owners whose home value went underwater. I now see that Obama proposes to ramp up loans (using federal backing) to homeowners whose homes are underwater!

Is this another example of doubling down on a bad idea?

Someone help me out.

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