Confessions of a Mortgage Broker

What is fascinating about this is the constant reference in this story by "the lenders pushed us to..."

Confessions of a Mortgage Broker (3 minutes ABC News video)

I think the understated factor in this huge mess, which everyone in the chain needs to take blame for, is just how aggressive the lenders were who pushed these brokers into selling these most awful of mortgages. The problem is after all the investigations, who will be left to sue? Most of these companies are now dust.... however, what will be interesting is to see if the mortgage arms of the more 'prominent US financial institutions' also participated in this behavior. Their parent companies have deep pockets so they could be an easy target for lawsuits. That said, by the time this gets through the legal system we will be talking 2015.

I expect this fall to see story after story of this on 20/20, 60 Minutes, Dateline NBC etc.

Isn't it amazing how only the name of the bubble changes, but the human behavior never does. Free markets and all....