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Articles posted on Thursday, January 10, 2013

Secret and Lies of the Bailout Politics News Rolling Stone

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Thursday, January 10, 2013
Category: America

From www.rollingstone.com

On paper, the Emergency Economic Stabilization Act of 2008 was simple: Treasury would buy $700 billion of troubled mortgages from the banks and then modify them to help struggling homeowners. Section 109 of the act, in fact, specifically empowered the Treasury secretary to "facilitate loan modifications to prevent avoidable foreclosures.

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