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Has anyone paid attention to the craziness of the last couple of days?
One could probably make the case that the last couple of days signify a return to sanity.
I would view providing zero-down, no-doc loans to borrowers whose sole qualification was a pulse as craziness.
I’d view high-yield corporate debt without covenants as craziness.
Etc, etc.
A return to sanity is long overdue, unsettling as it may be.
