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Debt-Market Paralysis Deepens Credit Drought

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MAINSTREAM MEDIA LATCHES ONTO SECURITIZATION MEME
"The continued disarray in debt-securitization markets, which in recent years were the source of roughly 60 percent of all credit in the United States, is making loans scarce and threatening to slow the economic recovery," the New York Times says. "Many of these markets are operating only because the government is propping them up." The problem? "Until more of the securitization market revives, or some new form of financing takes its place, a wide range of loans needed to secure a lasting economic recovery will remain elusive, experts said." Hmmm. Sounds ominous. The only problem is, when was the last time you saw an ominous economic prediction in a mainstream news outlet come true?
SOURCE:   New York Times

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