They now claim that they are not at fault, that they were preyed upon by the big bad mortgage brokers. They won’t learn and this pattern will repeat itself in another aspect of their lives in the future.
True, but the mortgage brokers are pinning the blame on the FBers, and they’re already a very successful at it based on the responses I’m reading here. This was a HUGE scam to STEAL money, and only some of it came from the FBers. The VAST MAJORITY of it came from the purchasers and holders of MBSes (probably 90% of us) that were tainted with toxic amounts of risk. When your pension goes bust or some of your 401K investments go t*ts-up under the weight of these doo-doo loans, I’ll bet a lot of you will be screaming that no one told you that those investments were risky! “You should have read the fine print — you deserve what you get!” will come the howls from the media.
