"The email from a Credit Suisse executive was blunt: The bank seemed to be pushing through risky home mortgages from questionable applicants.
One
borrower, the executive wrote, appeared to be a gas station attendant
who was living with his mother while claiming to make $93,000 a year.
Another was a former sales clerk at Nordstrom who was said to be making
$110,000 a year.
A different email, from another Credit Suisse executive in June 2007, went further: “Our diligence process is such a joke.” NYT 9 March 2014
The joke was on us. These guys still have not been held accountable for all the pain they created.
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