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Seriously. The narrative that the banks had no incentive to be intelligent about who they lent money to is absolutely true because good credit bad credit no cr
by NickC25 2y ago
Seriously.
The narrative that the banks had no incentive to be intelligent about who they lent money to is absolutely true because good credit bad credit no credit, the banks didn't care - the bank's money was backed by the Feds, and that was it. The banks got their cut, and made off like bandits. They knew what was going on.
- K0balt 2y agoIn many cases it wasn’t backed at all, they then bundled those garbage loans up with backed ones and sold them as solid investments out the door as fast as possible. It was fraud, plain and simple.