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Afternoon Mortgage Meltdown: Bringing the Bailout Home

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The FDIC may soon guarantee some homeowners' mortgages before they're sent into foreclosure. It's a move akin to what the feds did back during the Great Depression. The strategy would get at what it calls the "root cause" of the financial crisis -- mortgage defaults that lead to foreclosure that lead to credit tightening and housing markets tanking and blight and... Well, you know the rest. [Washington Post]