The same banks, mostly, which created mortgage backed securities, now own the houses.
Because they originally ' lost money ', (but were then bailed out), Michael Lewis had suggested that they were the so called
' dumb money ' on Wall Street.
If you get bailed out, and then later inherit the collateral anyway, plus claims for deficiencies against the prior home owners, plus much higher interest (judgment rates), compounded, than market interest rates n your claims, and attorney fees and court costs claims,
are you such dumb money after all?
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