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Resource ID: #24678
Subject: Savings And Loans
Source: CBS News
Date: 02/15/2009



This story is a “rare account of the forces that created the U.S. housing bubble and tore the world economy to pieces”. The major finding of the story was executives inside one of the largest lending companies, deliberately ignored warnings from their front line salesmen. This company was loaning money to people who would not be able to pay them back and later was victim to “more than 30 billion dollars of bad loans”.

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