Sunday, July 3, 2011

US Banks Debt forgiveness to Mortgagees

Snapshot Summary
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. JP Morgan & Bank Of America
. Giving debt forgiveness to Mortgagees.
. Who are under water, negative equity.
. Releasing liquidity in the market.
. Big Banks negotiating with Obama Administration on Debt forgiveness.
. Just as releasing Strategic Oil reserves.

http://www.nytimes.com/2011/07/03/business/03loans.html?_r=1

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