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How to Burst a Bubble

The mortgage crisis in four charts.

Data from the Federal Reserve: federalreserve.gov/newsevents/speech/bernanke20080505tbl.htm

Even more than the 1950s, with its picket fences and Sears-Roebuck houses, the early 2000s were the boom years of the American dream. From the Sunbelt to the Great Lakes, house prices kept going up, banks kept extending credit, and each new house constructed was more lavish than the last. Newfangled financial practices gave banks […]

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