Step 1: Loan officers pressured by their managers.
Step 2: Managers pressured by their higher ups.
Step 3: ???
Step 4: Profit (for Wall Street firms lusting over subprime mortgages).
In a nutshell why this has been so difficult to prosecute.
Step 2: Managers pressured by their higher ups.
Step 3: ???
Step 4: Profit (for Wall Street firms lusting over subprime mortgages).
In a nutshell why this has been so difficult to prosecute.
(Typical names in that space were WaMu, BofA, Countrywide and Citi.)