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Dick Bové Has Just About Had It With Washington, Triple Exclamation Point

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New mortgage concepts they've dreamed up? Yes another "classic example of how badly the people who are supposed to understand banking do not have a clue as to how it works. They love to pass laws and new regulations but they do not care nor do they understand what these regulations will do. Then they get frustrated when the simplistic monetar theories they put in place do not work. Classic!!! Pathetic!!!"

Forced Mass Refinancing [PDF]