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From the initial stages of the meltdown in subprime home loans to the government’s relief programs, the turmoil in the U.S. financial sector has sent shock waves throughout the global economic arena. Today, federal and state governments continue to struggle with the appropriate legislative and regulatory responses; massive deleveraging is occurring among financial institutions and corporations; the capital markets are sorting out competing financing models; and America’s housing finance market remains in need of serious repair.
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