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Question

According to Michael Burry, when will the adjustable rates on the mortgages kick in, causing defaults to skyrocket®

O 1st quarter of 2007

2nd quarter of 2007

• 3rd quarter of 2007

© 4th quarter of 2007

Answer

3rd quarter of 2007

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Michael Burry predicted that adjustable rates on mortgages would kick in during the 3rd quarter of 2007, causing defaults to skyrocket...