Reckless, even deliberately destructive, securitization of loans IS the 2008 financial collapse. The securitizers knew the loans were bad, but continued to push and push for more and more of them, because if they could get loans, no matter how shitty, it was a license to print money. What a swindle.
All those people who did this still have jobs and are still stinking rich beyond your biggest Powerball dreams, too. And they're doing it all again.
One of the worst parts of this whole mess is the legal hall of mirrors that lets loan originators, loan servicers, loan securitizers, purchasers of securitized debt, and all their associated lickspittles and camp followers endlessly point at each other when asked a question.
Interesting how the payments, when made, seem to magically divide up and flow into pockets of the thousand fathers of these bastard deals, but culpability is an orphan.
Obviously, the fuckwits of the Stranger know nothing at all about how mortgages work. That won't stop you from pretending that you do, though. After all, this is Seattle, where pretense rules the day and the night.
All those people who did this still have jobs and are still stinking rich beyond your biggest Powerball dreams, too. And they're doing it all again.
Interesting how the payments, when made, seem to magically divide up and flow into pockets of the thousand fathers of these bastard deals, but culpability is an orphan.
When it takes half your salary to afford a mortgage or rent.