Not at all the same. These people were/are crooks looking to get over on the system, not people who were following the rules and doing what was expected. This is not a grey area. These people deserve to be in jail.

I'm sorry. I saw boobs bouncing in your avatar and lost my concentration. As in real life I suspect people who tried to pay attention to what you wrote, couldn't. That's why you see the off topic responses. It's all your fault, really.

Steven

hope everyone realizes that is a distortion of what really happened


also - 2/3 of the people who have sub-prime loans actually were qualified for normal, lower interest, lower fee loans! we clearly want to go after loan brokers in those cases

last i heard the fbi had two different investigations going on the big bank/ins. houses

Why is it wrong to put someone in a subprime loan who could get an A paper loan? Isn't it up to the borrower to shop around? If I can get a better rate from my credit union, but go with the builder's lender, does that make the builder a criminal for not turning me away?

Of all the subprime loans I originated, I never saw one that could could have gone A paper. When you have a FICO in the low 600's, no documentable income and no cash for a down payment, believe me, you don't qualify for anything better than subprime. My own boss got a subprime loan for his big house. As a 100% commission income guy, he'd have had to average two years of tax returns minues expenses to qualify in an A paper loan. He didn't want to bother, though he made almost enough in a year as the house cost. So he did a stated income, 100% loan. He could have gotten A paper but didn't want to. Is that criminal? Are lenders required to give someone their rock bottm price every time? How about car dealers? Airlines? Why can I get a ticket for $300 sitting next to someone who pauid $600 for the same flight?