[lbo-talk] BBC 8/23/07: Shrewd lenders spark US mortgage chaos

[Doug Henwood]

Yes, a lot of smoothing talking con artists sold people a bill of  
goods on subprime, but in a bubble, people just want to believe, to  
make 20% a year, and they don't want to hear about payment resets.  
Bankers and brokers lied to customers, but customers also lied about  
their incomes. Let's not get too sentimental.

Doug