[org.whodat]

You don’t what to believe, but the questions are, weren’t these kinds of securities always around, and if so, how come they weren’t cause for concern before?

No they were no aways around, but there has been many similar scams. They happened because congress stuck it head if it's butt and refused to do their jobs for the past 15 years.

[litehaus]

"refused to do their jobs for the past 15 years."

.

Ah. cum'om...Both wife and I can recall those signs in the bank MANY, many years ago ==saying they (the banks) will adhere to the C R A rules and regs......I.E.? Give loans to folks who weren't able to pay them back....Mucho more than just 15 years,,,