CW could have competed in the market by offering the most agressive rates in exchange for using the maximum amount of due diligence. They could have skimmed the cream and left the dregs for the other idiots. There was more than enough volume to go around. Instead, CW had to try and get even bigger, and they did so at the expense of safety and soundness.
Based on recent events I think it’s safe to say that CW now doesn’t have to worry about getting too big.
