Fair enough. But can we agree that a loan package where hundreds of thousands of dollars are at stake should indeed require income and asset documentation/information from the borrowers?
Again, if these “financial gurus” created a system in which borrowers of little means are able to obtain access to hundreds of thousands of dollars that they could never pay back, then we have some serious problems on our hands. I cannot, for the life of me, think of a single reason why any intelligent financial experts would think this was a good idea and that there would be no negative consequences that would result from these types of loan programs. No “models” needed for this.
