Why do they need a bail out?
They have made a killing doing this.
They made a loan on a home that was 150k the loan did not go bad for 2 to 3 years then they shot the rate high and fast so the person defaults and the bank has a home that is now worth 175k and the will sale it for 170 making a profit of 25 k with the person down payment and all the cash that was paid on the mortgage for the years before it went bad was just gravy.
They know what they are doing and getting rich doing it.
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