Quote (thesnipa @ Sep 29 2023 02:04pm)
that's certainly a solid point, it just leaves me asking then is it not a car jacker's fault because he knew he could get rid of it at a chop shop? i still blame the banks the most and mortgage brokers, agencies also deserve a life sentence tho. anyone with a lukewarm IQ new adj rate subprime mortgages sold to low income people was evil, they sat across from those families, the agencies shuffled faceless papers.
The problem with your analogy is that both a chop shop and a car jacking are illegal. Making and repackaging a mortgage are not illegal or even unethical.
The subprime mortgages given to people with low financial literacy might be illegal though. Often they didn't even speak English. But that was still far after the ratings agencies had established their willingness to rubber stamp, so it's an illegal consequence of that activity still.
This post was edited by NetflixAdaptationWidow on Sep 29 2023 01:06pm