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Reply #73: well, it was simple, really
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BeFree
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Thu Dec-23-10 12:26 AM
Response to Reply #65 |
73. well, it was simple, really |
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Instead of paying the high rate, he refinanced to a lower rate. The holders of the previous bonds took a hit. Pretty much what the US is now doing by keeping the rates low. Any bonds or notes are paying a minimum of interest. Imo, it is one reason the bankers are going broke and having to be shored up by the fed.
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