The word that is lurking in the back of everyones mind, all day, everyday. The word that keeps people awake at night, wondering, waiting. The word that can mean many things; your house being forclosed on, missing presents under the christmas tree, losing your job then despretly searching for another one. But wait, this has happened before. Remember the 1929 stock market crash? Remember how not only did our country go into a recession, but that time in our nations history was labled The Great Depression! How could this happen twice in the land of prosperity? So what happened? Pretty much the same exact thing both times! Both of these recessions had to do with the deregulation of either the mortgage business or the stock market. I wouldn't call the Crash of 29' acceptable, but at the time, our market was green. No regulations, no laws against buying on margin, nothing. So at least you could almost expect the crash. But nowadays, I thought we had regulations, rules, laws to prevent mortgage brokers to sell these plans to those people who could obviously not pay it back! What it really boils down to is this; What did we really learn from 1929?
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