[mookiemookie]

Originally Posted by Winston

As I understand it, used to be someone had to have some sort of income before they could get a mortgage or a loan back in the '70's, however why worry about the borrower paying back there debts if you plan on selling it on to a bunch of saps? And that there was the problem. As long as bank intended to repackage and sell on these bad debts then they were going to make money anyway. They lost there incentive to make sure the loan was able to be paid back. So the fraud its self was encouraging to much lending, lending of a very predatory nature that would only end in one way. The rest is history.

Nail on the head.