Tuesday, May 17, 2011

"The banks were in over their heads. They were lending to people who they knew couldn’t pay them back. Then they aggressively pursued foreclosures to try and get their money back when those folks defaulted. The question is why would you loan money to those people in the first place? And further, when you packaged and sold some of those mortgages did you explain to those investors the risks involved? That’s the heart and soul of what the attorney general is going after."

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I find it a relief someone is actually investigating and challenging these big banks, but also interesting that some people don't feel these investigations are necessary or are "over the top." What are your thoughts on these investigations?

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