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mike

8 months ago

in What Are Those Strong ‘Economic Fundamentals?’ on The Washington Independent
It is not quite accurate to state that working class americans are not at fault. People borrowed more money than they could pay back. That is the fundamental problem. I obtained a loan in 1997 and I told the bank what I was comfortable with as far as a monthly mortgage. There statement was "we will loan you a lot more money" and I said no you will not. People need to understand their ability to pay back loans.
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