I’m saying that if the courts ruled against these institutions and forced them to make these loans, I’m having a hard time jumping on board the prosecution gravy train.
The regulators were there every step of the way. Why aren’t they being investigated? They signed off. The courts signed off. Congress signed off.
If a banker clearly committed a criminal act, then fine. I’m not here to defend criminality. I just don’t think this whole crisis was created by criminal acts. I don’t consider complying with the edicts of courts or the demands of Congress to be a criminal act.
OK but what about what happened to the loans after they were made? The loan originators in most cases didn’t hang onto them.
Im saying that if the courts ruled against these institutions and forced them to make these loans, Im having a hard time jumping on board the prosecution gravy train.
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99% of the subprime no-doc 100% fraudulent loans were in areas not covered by the CRA ...