From huffingtonpost.com
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Subprime Mortgages
How will subprime mortgages, and more importantly defaults of subprime mortgages impact the real estate market as well as the US economy as a whole?
Goldman spent years buying hundreds of thousands of subprime mortgages, many of them from some of the more unsavory lenders in the business, and packaging them into high-yield bonds. Now that the bottom has fallen out of that market, Goldman finds itself in a different role: as the big banker that takes homes away from folks such as the Beckers.
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