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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Rubles to the dollar at the end of Dec. 16 low, after a day of freefall and a total drop of 50 percent in six months
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