From the story in The Denver Post, here:
“What I kept seeing over and over again is how greed manifests itself,” he said. “There was an unprecedented amount of fraud.” ... People lied about their income, they lied that a home would be a primary residence, they lied about how indebted they were, they even lied about who they were, using other people’s identities to take out loans.
“It was crime on a massive scale, but nobody viewed it that way,” he said.
Banking expert Chris Whalen sums up 2008 the same way, here:
People keep asking what we think of the 10-year anniversary of the collapse of Lehman Brothers. Our answer is that not much has changed. Lehman once had the best performing bank in the US and then it was gone. Why? Fraud on loans and securities.
It seems our biggest problem, from the top of our society all the way on down to the bottom, is that it is shot through with liars.
Remember that next time you read a poll, or a resume.
Let God be found true, though every man be found a liar. -- Romans 3:4
