[Excaliber]

Meat, thanks for making abundantly clear your radical position on, well, everything. Your extreme position(s) make it impossible to take you seriously any more, so I'll move on...

The way loans USED to work did consider your ability to pay, debt to income ratio, length of job, the typical stuff. When the housing 'boom' came along much of those safegaurds were reduced by unscrupulous financiers. The 'bank' (a rather broad term) was willing to take a 'risk' along with the buyer. The potential win/win situation only fed the fire. Here in Hawaii, you found a financier that could 'get r done' because he knew all the right people. The right appraisers, the right loan officers, the right mortgage people, if you wanted a loan bad enough, there was a way. The safegaurds against such fraud were significantly reduced in the quest for dollars.

No way that was 'just' Hawaii. Anyone that doesn't believe appraisers weren't under pressure to bring in the right 'numbers' (uh, that would be you Meat) lives in a fantasy world. Loans were being made from the top (CEO) down and many many players along the way were involved, caught up in the greed. Really, it's a national disgrace.