Thought you guys might find this little tidbit interesting, though I feel more should be looked into on this particular matter. In either case, talk about a nightmare once those dollars really come home to roost.
The moral hazard that has been created as of late really is astounding. Like how the government pressured BOA to reduce mortgage principals – only
for those who were late on payments. If you accepted that you were underwater but decided to have some integrety you were out of luck.
America is not making an economic recovery. China, Singapore and Poland are. America is just getting gheyed up.