The article is great. But there is one comment made at the end that is worthy to note:
I'd expect investigators and judges to understand the difference between a home buyer who was encouraged to leave the form blank, and a speculator who wound up with several homes he couldn't afford obtained via fraudulent mortgage applications.
There isn't enough room in the prisons for people with false info on their mortgage apps. Dont forget, near the peak of the bubble houses were out of reach for just about everybody and if you were a first time buyer, you had to lie.
Then again, building more prisons and hiring prison guards would fall under the category of 'infrastructure' and 'job creation'... maybe I'd better not give Obama any ideas!