The Bad Guys of Subprime Lending Are Raking in Bailout Billions

Naming the top 25 lenders and their Wall Street backers that juiced the subprime industry.

The top subprime lenders whose loans are largely blamed for triggering the global economic meltdown were owned or bankrolled by banks now collecting billions of dollars in bailout money -- including several that have paid huge fines to settle predatory lending charges.

These big institutions were not only unwitting victims of an unforeseen financial collapse, as they have sometimes portrayed themselves, but enablers that bankrolled the type of ... Full Story »

Posted by Dwight Rousu

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Dwight Rousu
4.1
by Dwight Rousu - May. 21, 2009

The investigational journalism here strongly indicates that the finance institutions were not victims as much as they were enablers and participants in the greed orgy and white collar crime that caused the crisis. The five pages does not read like a novel, but it names names and describes the processes.

the subprime lenders could never have done so much damage were it not for their underwriters — those giant investment banks in the U.S., Germany, Switzerland, and England.

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