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Originally Posted by genuinegirly
It is my understanding that there is some confusion on who owns what, and even sound banks (ie- Wells Fargo) that stayed clear of risky mortgages have been seriously impacted.
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This is a very common misperception. Pretty much ALL national banks were involved in the sub-prime lending industry - some have just managed to keep the public less aware of it. Wells Fargo is a great example - their sub-prime lending was some of the riskiest paper out there - they just keep quiet about it.