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One of my businesses is the disposal of foreclosed properties for the banks.
At the last large industry event, which was closed to the public and (mostly to the) press (who was more interested on reporting the parties in rented mansions), the banks admitted that they were shitting bricks.
We have seen NOTHING yet. They're not exactly singing it from the top of the mountain, but they aren't trying too hard to keep a lid on it, either.
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