Return of the predators

That's the title of a NYT editorial that begins as follows:

The demise of the subprime mortgage industry has been hard on predatory brokers, too. They feasted for years on bad loans until reality crashed down and the money ran out, and there they were: sharks without a frenzy.

Now they are circling again. Predators of every sort have regrouped and returned to their old ways, this time as loan-modification companies, inserting themselves between hard-strapped homeowners and banks, offering to work deals — for cash up front.

You've probably seen the ads and heard the commercials, boys and girls.

P.T. Barnum is alive, and well, and working in America.

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