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  • But 300 million Americans, their lending institutions, their government, their media, all believed that house prices were going to go up consistently. And that got billed into a $20 trillion residential home market. Lending was done based on it, and everybody did a lot of foolish things.

    "Warren Buffett: I Haven't Seen As Much Economic Fear In My Adult Lifetime". "Charlie Rose", www.cnbc.com. October 1, 2008.
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