Either he's a complete fool, or he hadn't heard about the massive RE fraud the FBI had begun reporting taking place all over the country, or he knew damn well w

Either he's a complete fool, or he hadn't heard about the massive RE fraud the FBI had begun reporting taking place all over the country, or he knew damn well what and why. Take your choice. Small wonder that prices were rising like crazy (how can that -not-be a bubble? given the history of RE prices over the previous century) when anyone with a pulse could get a loan. And oh how they got away with it.