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Sheol t1_izzgutl wrote on December 12, 2022 at 11:52 PM

Reply to comment by BetterMeThanYou in I’m Cornelius Hurley, academic, lawyer, 14-year director of a Federal Home Loan Bank. Ask me anything about the FHLBs. by ProfBU

The whole American economy is based on speculative housing and the government backstop to keep it always trending up. It's what all of the 2007 recession was about.