Cashing In, Again, on Risky Mortgages

07-19-2009 • NY Times

From the ninth floor of a downtown office building on Wilshire Boulevard, Jack Soussana delivered staggering numbers of mortgages to homeowners during the real estate boom, amassing a fortune. By Mr. Soussana’s own account, his customers fared less happily. He specialized in the exotic mortgages that have proved most prone to sliding into foreclosure, leaving many now scrambling to save their homes.

1 Comments in Response to Cashing In, Again, on Risky Mortgages

Comment by Lucky Red

Entered on: 7/20/2009 5:16:27 AM

What else when you let a bunch of greedy crooks run around amok till they crash the economy of the world and, in exchange, you hand them over the keys to the federal bank?

Now, if these crooks had been put in jail for 150 years, this wouldn't be happening again, guaranteed!

Now, the sad thing is that in another 10 years or so (if that long), they'll be back for more and whoever is in the charge of the henhouse will hand over whatever they want. When that's over, start on step 1 and repeat...

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