Here you have an eyewitness in a post above talking about a direct bank employee advocating falsifying incomes in order to sell mortgages to people who obviously would not be able to maintain them.
Money was made with fees with the loan was "originated" plus assorted other banking fees. Money was made when the mortgage was sold. Money was made when the mortgage failed (due to the credit default swaps).
And remember that even people with no actual investment could "bet" on the outcomes by buying credit default swaps.
BAD MORTGAGES were a commodity in and of themselves. This is FRAUD!!!!!!!!!!!!!!!!!!!!!!!
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