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No, they are defending the other branch of their business, which is to give people big fat mortgages.

If they forecast a house price crash, there will be less mortgages and they will be leaner.

Most economists teach a theoretical framework that has been shown to be fundamentally useless. -- James K. Galbraith

by Migeru (migeru at eurotrib dot com) on Fri Dec 19th, 2008 at 09:46:44 AM EST
[ Parent ]
damn the html sarcasm markers dont transfer across properly ;-)

Any idiot can face a crisis - it's day to day living that wears you out.
by ceebs (ceebs (at) eurotrib (dot) com) on Fri Dec 19th, 2008 at 09:57:01 AM EST
[ Parent ]

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