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HEADLINES ON August 20, 2009
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- Headline: Countrywide's Setback in Loan Modification Case. Impact: This ruling didn't just affect Countrywide; it triggered a domino effect that sent shockwaves through the mortgage industry. By the 2020s, it would be viewed as the 'great mortgage meltdown' that led to the invention of the phrase 'underwater mortgage'—no diving gear required.. Fact: Did you know that mortgage-backed securities are just like regular securities, but with more regret attached?.
- Headline: Bernanke, a Hero to His Own, Can't Shake Critics. Impact: Bernanke's tenure is often viewed as the start of the 'Fed Bashing Era,' where every economist suddenly became a critic. It's like when your mom finally learns to use Facebook and starts commenting on all your life choices.. Fact: Did you know that Bernanke once tried to explain quantitative easing at a dinner party? Spoiler alert: it didn't go well..
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Netflix - If you invested $1,000 in 2009, it would be worth $220,288 today (220.3x return)