Mortgage Meldown - House of Cards?

MrArbitrage's take on the real cause of the Mortgage & "liquidity crisis" & how Jim Cramer is fomenting the problem.

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Patriot News Hour (Radio Show) Friday- August 17, 2007

http://allamericangold.com

Eric and Joltin' Joe wrap up the week with more news on the economic roller coaster after the Feds cut the DISCOUNT rate (Fed to bank rate) by 1/2 % point this morning before the market opened, but that doesn't help mortgage rates, which are up today. The problems are not FIXED; the dollar will continue to slide and interest rates will go up.

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Bush and The Sub Prime Bubble

The Bush Tax Cuts did not go to fund new business investment. Instead much of the money went into hedge funds which used it to speculate on sub prime mortgages. The instability which is of concern in world financial markets is a direct result of policies of the Bush Admininstration.

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