It was January of 2008 when I posted that both the banks and the borrowers were equally at fault for the mortgage crisis. I will admit that I was wrong. It wasn’t until I looked at what was going on that I understood the scope of the problem.
The lenders deliberately manipulated the system, from paying off legislators, to forging paperwork, paying off appraisers, and all sorts of trickery- all the while making bad loans knowing that they would be sold off to investors before the loan went bad.