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A point of discussion for your next Happy Hour. :>)   If asked the proper question. There is not one mortgage or bank Exec. That will say that codes and regulations forced them to make a single loan. Because there were no codes or regulations that forced banks to make loans.   If bank exec. Are asked the proper questions. They will admit it was the liar loans that are the loans that have created the biggest foreclosure problem. Because it is the liar loan that was given to the person who had no verifiable income. There are no regulations that justified liar loans. Liar loans were invented by the bank exec. So they could get the upper hand on the competition. It was greed. The desire for unjustified profit that drove these liar loans. Nothing else. It just so happens that liar loans were usually combined with the adjustable and other loans. It was the liar loan though, that made up the majority of sub prime loans.   Capitalism in America has always supposed...
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