We need to send these people to jail. But we won't.
I can't find any breakdown in this LA Times piece, but I have to wonder: How many of these loans are from the shell game run by for-profit colleges? Because they're almost designed to have students default, much like mortgage derivatives. And in
The entire house of cards constructed by the banks and the mortgage industry is falling down, and it's not going to be pretty. By the time it's all over, this could make 2008's previous banking failures look mild in
It turns out that Wall St. knew almost one-third of the mortgages they bundled and sold to investors were bad. You're shocked, right? I know I find it hard to believe that this bunch of high-priced suit-wearing cokeheads, these Masters of the