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Archive for May 9th, 2008

Madison Avenue made the mortgage mess »

The change in thinking about homes from shelter to investment that Gene Melchionne pointed out was promoted by the marketing of financial products:  unlock the equity in your home;  put your home’s equity to work, screamed the ads.
Now, that equity wasn’t harming anyone, sitting there idle.  In fact, as we see too vividly today, it [...]