Sociopaths in charge
Program length – 28:00
Fraudulent loans are profitable… for crooks
How bad is the current banking crisis?
Just one bank alone – IndyMac – generated as many fraudulent loans as the entire Savings and Loan scandal of the 1980s.
How did it happen?
The Bush administration completely shut off all banking regulation.
Fraud was everywhere – at the level of the loan broker, at the level of the loan packager, at the investment bank level.