[EVO X]

So many here attempted to blame the poor slobs that went looking for loans

It takes 2 to do the Tango. It is unfortunate that ignorant people were taken advantage of, but their ignorance contributed to the problem. This has a been an expensive education for many on both sides of the desk..

[dragnet2]

It takes 2 to do the Tango.

Wrong...Not when it comes to lending tens of thousands of dollars.

The poor slobs that went looking for loans had absolutely zero, zip, nada authority in regards to loan approval decisions. Of course everyone knows this.

The fact is, the bankers, lenders, and everyone else in finance would have lent money to a ham sandwich back then. Those greedy financial industry idiots were only seeking loan commissions etc, and lost all sight of their professional lending and standards ethics.

[dragnet2]

It takes 2 to do the Tango.

Wrong...Not when it comes to lending tens of thousands of dollars.

The poor slobs that went looking for loans had absolutely zero, zip, nada authority in regards to loan approval decisions. Of course everyone knows this.

The fact is, the bankers, lenders, and everyone else in finance would have lent money to a ham sandwich back then. Those greedy financial industry idiots were only seeking loan commissions etc, and lost all sight of their professional lending and standards ethics.

In addition, that would be like some illegal, or slob that has little or no money down, tiny income, and wanting to borrow 400k from you for a home or whatever.

You going to "tango" with this guy and give um the loan?

[Lexinom]

I think you are absolutely correct from an ethical standpoint, if not a professional one.

For one thing, too many people are not content with a simple and adequate home. Greed and mammonistic priorities got the better of folks. One anecdotal WAMU case had a couple getting a $500,000 home loan. Both worked at McDonalds.

For another, the greed of the lenders for loan commissions led them to grant these loans, not looking out for the best interests of either the borrower or the bank.

Ethics ought to trump everything - after all, if we always did what was right we would not need law for we'd be a law unto ourselves. They should, but alas do not, and Plato knew this when he wrote his famous Republic. Fallen human nature is what it is.