i agree a lot of the people getting foreclosed are
childish, stupid, immature, greedy, stupid, did i say STUPID,
but, the brokers didn’t care, it wasn’t their money.
HSBC, etc didn’t care either, they were selling the paper to
merrill who sold it to pension funds etc.
had the MBS market been tightly regulated, you would see
the hazard held to the issuers.
