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You understand the borrowers weren’t the victims of the fraud —- in fact they were engaged in it. The banks settled on charges of selling securities backed by l
by JackFr 4y ago
You understand the borrowers weren’t the victims of the fraud —- in fact they were engaged in it. The banks settled on charges of selling securities backed by loans that they had not sufficiently vetted, of which many turned out bad.
- vkou 4y agoThe banks issuing the loans weren't the victims of the fraud, either. They were making money hand over fist repackaging and reselling those shitty loans.