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Will Mortgage Mess Bring Us Back to the Brink? |
October 28, 2010
Could the demand that Bank of America buy back billions in mortgage-backed securities put the whole U.S. banking system back on the brink? At a public hearing today on loan modifications and foreclosures, a Treasury official dismissed that concern despite doubts raised by the Congressional Oversight Panel for the Troubled Asset Relief Program, the group charged by Congress with overseeing and assessing the effectiveness of the federal bank bailout.
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