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View Diary: "Geithner Blocking Legal Help For Foreclosure Victims" (124 comments)

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  •  Most credit default swaps are for 5 years so (1+ / 0-)
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    they were still cheap back then before the market fell apart.
    Heck you didn't even have to have financial interests in them, just buy them naked! Buy 5, they're cheap!

    But to qualify to get a pay off on mortgage securities you need them in default.
    That is a quicker and potentially larger payoff

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