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Loan Modification

: Mortgage Lender Implode-o-Meter

HOT: Fed Hides Major Accounting Change

By Implode-Explode Heavy Industries

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`` "Any future losses the Fed may incur will now show up as a negative liability as opposed to a reduction in Fed capital, thereby making a negative capital situation technically impossible," said Brian Smedley, a rates strategist at Bank of America-Merrill Lynch and a former New York Fed staffer. ''

Full post as published by Mortgage Lender Implode-o-Meter on January 21, 2011 (boomark / email).

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