Re: BBC 8/23/07: Shrewd lenders spark US mortgage chaos
Yes, a lot of smoothing talking con artists sold people a bill of
goods on subprime, but in a bubble, people just want to believe, to
make 20% a year, and they don’t want to hear about payment resets.
Bankers and brokers lied to customers, but customers also lied about
their incomes. Let’s not get too sentimental.
Doug