BANKS FACE TWO-FRONT WAR ON BAD MORTGAGES, FORECLOSURES

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BANKS FACE TWO-FRONT WAR ON BAD MORTGAGES, FORECLOSURES As in 1873, a complex financial pyramid rested on complex, hard-to-value, illiquid securities. In response, banks began hoarding cash. Banks that hoard cash do not make short-term loans. Today businesses of all sizes face unprecedented difficulties in getting loans to.