the gist, tumbld

“What was going on was the banks were in effect giving money away. You had to ask the question, it’s not a standard part of American business practice for American banking practice is to give away money, especially giving away money to poor people. Giving away money to CEOs is one thing, but to give away money to these subprime mortgage borrowers who are among lower income Americans just was a very peculiar thing and what was going on?”