A symbiote’s life is not a happy one: Part 2, the happy duo
[Continued from yesterday's Part 1.]
In the subprime mess, everybody involved looks somewhere between shady and naïve:
Aspirant borrowers signed up for loans, often making questionable or few disclosures on their applications
Mortgage originators booked themselves fees for placing people in loans they would be unable to pay on a reset
Underwriters sliced them into securitizations, passing along the [...]
