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I think his point was that the loosening of standards wasn’t because of anyone had a good heart, or because of the reinvestment act, it was simply the shortsig

I think his point was that the loosening of standards wasn’t because of anyone had a good heart, or because of the reinvestment act, it was simply the shortsighted greed of the lenders.

User23 7y ago
It was a classic accounting control fraud, just like the S&L scandal. William Black wrote the book on them if you want to learn more.