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Busted

Life Inside the Great Mortgage Meltdown
Mar 05, 2014StarGladiator rated this title 1 out of 5 stars
A reframing of reality in the form of a mea culpa from a NY Times economics reporter. (McClatchy was too wise to ever hire this dud!). Sorry, Andrews, but fraud accounting, securitizing everything and filing it under off-balance-sheet accounting at SIVs and SPVs (offshore financial constructs) so as to remove it from the banks' books, and therefore allow evermore loan and proprietary trading business, doesn't cut it. Just as the author's personal reframing doesn't cut it.