Photographer: Gianluca Colla/Bloomberg
In the mortgage bond boom, banks and hedge funds, not homeowners and debtors, stand to gain most.
The winners in a Federal effort to keep housing afloat are banks, investors, and a limited group of homeowners. The losers are those who who buy homes expecting they will gain value over the next decades.
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Size of Argentina's 2001 default. The country is on the hook for as much as $15 billion of that in the wake of the latest court ruling.
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