Fraud, in the shape of "liars' loans", aka Alt-A, was the major driver of the housing bubble: see http://www.pbs.org/moyers/journal/04232010/profile.html http:/

Fraud, in the shape of "liars' loans", aka Alt-A, was the major driver of the housing bubble: see http://www.pbs.org/moyers/journal/04232010/profile.html http://www.pbs.org/moyers/journal/04232010/profile.html where William Black discusses the frauds. See Wikipedia on William K. Black for more.