Quote:
Originally Posted by mookiemookie
It was much the same here. People had the attitude that "hey the lender knows what they're doing, they wouldn't loan me the money if I couldn't repay it." But the lenders never cared about the loans being repaid. They sold them off to the securitizers on Wall Street to be packaged into garbage securities.
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You are on the right track, just keep digging. It does not begin, nor end, with Wall Street. The private securitizers were a symptom, not a cause.