Government policies were designed to increase homeownership. Affordable Mortgages, created to realize this goal, were responsible for the Housing Bubble and distorted the economy. The unwinding of these distortions will result in a Global Depression.
The Affordable Mortgage Depression: Bank of America's Woes Discussed in November of 2008
Bank of America's Woes Discussed in November of 2008
Everything an investor needed to know about Bank of America's ongoing troubles was available in 2008 following a tragically misguided acquisition bender.
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