The problem is that his claim just isn't very plausible. It takes a great deal of optimism to believe that everything that happened in (in particular) the origi

The problem is that his claim just isn't very plausible. It takes a great deal of optimism to believe that everything that happened in (in particular) the origination, packaging and rating of US subprime mortgages (including the stated-income mortgages which industry types were referring to as "liar's loans", at the same time they were making and processing them) was a product of simple ignorance and incompetence.