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| Permalink View Article Stats (1 comment) A Banker Speaks, With Regret By NICHOLAS D. KRISTOF Quicklink submitted by Scott Baker (Add your own quicklinks easily with the OpEdNews Quick Link Browser bookmark) |
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| If you want to understand why the Occupy movement has found such traction, it helps to listen to a former banker like James Theckston. He fully acknowledges that he and other bankers are mostly responsible for the country's housing mess. As a regional vice president for Chase Home Finance in southern Florida, Theckston shoveled money at home borrowers. In 2007, his team wrote $2 billion in mortgages, he says. Sometimes those were 'no documentation' mortgages. 'On the application, you don't put down a job; you don't show income; you don't show assets,' he said. 'But you still got a nod.' 'If you had some old bag lady walking down the street and she had a decent credit score, she got a loan,' he added. |
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let the bodies hit the floor
by Ned Lud on Thursday, Dec 1, 2011 at 7:20:38 AM