Word: wouldn
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Dates: during 2000-2009
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...money? There was little fear of buying a house with nothing down, because housing prices, we were assured, only go up. And there was no fear of making mortgage loans, because what analysts call "house-price appreciation" would increase the value of the collateral if borrowers couldn't or wouldn't pay. The idea that we'd have house-price depreciation - average house prices in the top 20 markets are down 15%, according to the S&P Case-Shiller index - never entered into the equation...
...were bought by foreign central banks, which wanted to own dollar-based securities that carried slightly higher interest rates than boring old U.S. Treasury securities. A big reason the Fed and Treasury felt compelled to bail out Fannie and Freddie was the fear that if they didn't, foreigners wouldn't continue funding our trade and federal-budget deficits...
...heard, of course, that subprime mortgages - subprime is Wall Street's euphemism for junk - are where the problems started. That's true, but the problems have now spread way beyond them. Those predicting that the housing hiccup wouldn't be a big deal - what's a few hundred billion in crummy mortgage loans compared with a $13 trillion U.S. economy or a $54 trillion world economy? - failed to grasp that possibility. It turned out that Wall Street's greed - and by Wall Street, we mean the world of money and investments, not a geographic area in downtown Manhattan - was supplemented...
...then, Pelosi realized she was on the wrong side. She had previously told one interviewer that she wouldn't budge on drilling because she was "trying to save the planet." But a senior aide says that when Barack Obama came out in favor of a pro-drilling compromise emerging in the Senate just before the August recess, "she realized she was going to have to support...
...partly on a foundation of subprime mortgages. It was all justified by super-sophisticated models - way too sophisticated for "you" to understand - that looked back at real estate pricing and foreclosures and couldn't conjure a scenario in which the holders of the most senior parts of these tranches wouldn't get paid...