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If you weren’t alive, or weren’t news-cognizant, back in 2007 when the slow motion debt crisis all around us started to give way to The Great Recession, what was eerie was that it felt like you were always hearing about refinancing debt. You couldn’t turn on a TV, or click a page on MySpace, without someone offering to refinance your debt. This was because there was a huge—and for most people, hidden—market for things called mortgage-backed securities. This piece at the Onion…
