Cost Loan News Today : Breaking News, Live Updates & Top Stories | Vimarsana

A whole series of loan products , peddling them aggressively to people who did not have the ability to pay those loans back. >> when they say sign here, sign here, and they tell you that they told you everything that's important about the loan, you think they have and you just sign. >> i just feel so stupid. >> the whole system was designed to go after people with marginal means and then to put them in the highest cost loan possible because those are the loans that paid the most fees. >> the banks didn't have to care anymore about whether the loan got paid back because the loan had been sold t...

About the loan, you think they have, and you just sign. >> i just feel so stupid. >> the whole system was designed to go after people with marginal means and put them in the highest cost loan possible. because those are the loans that paid the most fees. >> the banks didn't have to care anymore about whether the loan got paid back because the loan had been sold to wall street. >> instead of keeping the dicey loans in their own portfolios, the big banks and giant mortgage companies that originally underwrote them sold them off to big new york investment houses. >> firms like bear stearns and me...

Means and put them in the highest cost loan possible. because those paid the most f s fees. >> banks didn't have to care anymore about whether the loan got paid back because. the loan had been sold to wall street. >> instead of eep keeping the loans in their own portfolios, the big banks and giant mortgage companies that originally underwrote them sold them off to investment houses. >> firms like merle lynch sliced the loins into little pieces, package them up with investments and sold them to their best customers around the world as high yield mortgage backed securities. turning it into. silk...