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	<title>Obsolete Certainty &#187; mortgage meltdown</title>
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	<link>http://obsoletecertainty.com</link>
	<description>Following a world full of uncertainty.</description>
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		<title>Countrywide Sued Over Dead Man&#8217;s Home</title>
		<link>http://obsoletecertainty.com/countrywide-sued-over-dead-mans-home/</link>
		<comments>http://obsoletecertainty.com/countrywide-sued-over-dead-mans-home/#comments</comments>
		<pubDate>Tue, 26 Aug 2008 10:42:39 +0000</pubDate>
		<dc:creator>O.C.</dc:creator>
				<category><![CDATA[Business]]></category>
		<category><![CDATA[Finance]]></category>
		<category><![CDATA[Uncategorized]]></category>
		<category><![CDATA[banking]]></category>
		<category><![CDATA[mortgage fraud]]></category>
		<category><![CDATA[mortgage meltdown]]></category>
		<category><![CDATA[real estate]]></category>

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		<description><![CDATA[Ticor Title, a mortgage title insurance company, has sued Countrywide over the title claim to a Chicago home that was reportedly bought and sold THREE TIMES during a period where the previous owner, Randy Johnson, sat mummified in a chair next to his dead dog. The 2007 loan in question is a $360,000 first mortgage [...]]]></description>
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		<title>RBS Post First Ever Loss</title>
		<link>http://obsoletecertainty.com/rbs-post-first-ever-loss/</link>
		<comments>http://obsoletecertainty.com/rbs-post-first-ever-loss/#comments</comments>
		<pubDate>Fri, 08 Aug 2008 10:37:00 +0000</pubDate>
		<dc:creator>O.C.</dc:creator>
				<category><![CDATA[Uncategorized]]></category>
		<category><![CDATA[banking]]></category>
		<category><![CDATA[Finance]]></category>
		<category><![CDATA[mortgage]]></category>
		<category><![CDATA[mortgage meltdown]]></category>

		<guid isPermaLink="false">http://obsoletecertainty.com/?p=12</guid>
		<description><![CDATA[The Royal Bank of Scotland, the second largest bank in the U.K., posted a net loss which was the first loss recorded by the bank since becoming a public company 40 years ago.  However, the apparent good news is that the company believes that the $11.4 billion (U.S.) in write-downs announced earlier this year may [...]]]></description>
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		<title>Freddie Reports Loss</title>
		<link>http://obsoletecertainty.com/freddie-reports-loss/</link>
		<comments>http://obsoletecertainty.com/freddie-reports-loss/#comments</comments>
		<pubDate>Wed, 06 Aug 2008 10:35:58 +0000</pubDate>
		<dc:creator>O.C.</dc:creator>
				<category><![CDATA[Business]]></category>
		<category><![CDATA[Finance]]></category>
		<category><![CDATA[real estate]]></category>
		<category><![CDATA[banking]]></category>
		<category><![CDATA[Freddie Mac]]></category>
		<category><![CDATA[mortgage]]></category>
		<category><![CDATA[mortgage meltdown]]></category>

		<guid isPermaLink="false">http://obsoletecertainty.com/?p=10</guid>
		<description><![CDATA[The mortgage meltdown continues as Freddie Mac reported a worse than expected loss in the second quarter driven by a $2.5 billion dollar provision for loan losses.  The second quarter loss of $821 million or $1.63 a share was significantly worse than analyst expectations.  Freddie will now cut the third quarter dividend and continue to [...]]]></description>
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		<title>A trillion here&#8230;</title>
		<link>http://obsoletecertainty.com/a-trillion-here/</link>
		<comments>http://obsoletecertainty.com/a-trillion-here/#comments</comments>
		<pubDate>Sun, 27 Jul 2008 13:23:43 +0000</pubDate>
		<dc:creator>O.C.</dc:creator>
				<category><![CDATA[Business]]></category>
		<category><![CDATA[Finance]]></category>
		<category><![CDATA[mortgage meltdown]]></category>
		<category><![CDATA[real estate]]></category>
		<category><![CDATA[subprime]]></category>
		<category><![CDATA[Wall Street]]></category>

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		<description><![CDATA[Bill Gross, who manages the world&#8217;s biggest bond fund, estimates that the total write-downs related to the current mortgage mess will hit a trillion dollars.  Gross, manager of the Pacific Investment Management Company (often referred to as PIMCO) states that the total investment in &#8220;risky assets&#8221;, such as subprime and Alt-A mortgages, total $5 trillion. [...]]]></description>
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