Wow -- that's all I can say after reading this Bloomberg story. If you're interested in how subprime lending turned into the mortgage equivalent of the "Wild Wild West," then this piece is a must read.
Sorry for the lack of posts otherwise today ... I've been very busy on a special project and have been working from home to get it done. Things should be back to normal tomorrow.
Daily analysis of trends in interest rates, financial stocks, the economy, the housing market, and more.
Disclaimer: The comments herein reflect personal opinions about the markets. Under no circumstances does this information represent a recommendation to buy or sell securities.
I've been researching and writing about the financial markets since 1997. I'm fascinated by interest rates, financial stocks, and the housing market -- and I'll do my best to keep you interested in them at this blog, too. Enjoy!