The loans were designed to fail crash the economy and use a taxpayer bailout to cover the fraud. The borrowers are stooges to create artificial losses.
While Wall street CEO's may be stunningly stupid violent thugs hired to intimidate people, rest assured the money laundering process was set up to profit from the foreclosures. My fathers BIO is very similar to Paulson's secretary treasurer of steel company, a belligerent all state wrestler who learned to game the system at an early age and steal other peoples assets instead of getting an honest job. My father has several residences in Barrington and both coasts of Florida and the iq of an earthworm a point and grunt caveman mentality using threats and intimidation to take take peoples money. Heres Paulson's bio:
Born in Palm Beach, Florida, to Marianna Gallaeur and Henry Merritt Paulson, a wholesale jeweler, he was raised in Barrington Hills, Illinois. He was raised as a Christian Scientist. Paulson attained the rank of Eagle Scout in the Boy Scouts of America.
A star athlete at Barrington High School, Paulson was a champion wrestler and stand out football player, graduating in 1964. Paulson received his Bachelor of Arts in English from Dartmouth College in 1968; at Dartmouth he was a member of Phi Beta Kappa and was an All Ivy, All East, and honorable mention All American as an offensive lineman. The problem with the corporate fraud cuture is as Tiffany states is due to a blame the other person mentality and expecting others give you what you feel entitled to. I went to a private school with the largest portion of students from Barrington Hills and many actually earnrd the money and had a savings based mentality and wanted a good education for thier children, I understand the cororate crime mentaltility first hand growing up a blue collar worker type in and excutive blue blood family I had first row seats as an outside observer. The primary charicteriscic of the corporate criminal is habitual outrageius lying, like Hitler said the big lie is more believable than the little one, My father made up a coat of arms and claimed we were direct descendents of Alsacian royalty, My stepfather who was an insurance industry millionaire had DR. John Moge written on his checks he simultaneuously claimed to be a medical doctor, a Politcal commentator on WGN news radio and had vanity plates that said WGN on them and a state health inspector and an insurance industry multimillionaire, and a WWII fighter pilot etc. etc. My mother claimed to be a sucessful business person when in fact she was burried in credit card debt and could not even afford ot shop on $150,000 per year. When I aquired my first $50,000 by saving money as a construction worker my family members made numerous death threats and threats to strip me of my home and assets because they felt it was unfair to compete with them becuase I did not have the burden of children and therefore I was destroying thier image as successful business people by aquiring assets as a construction worker.
After my family taken my boat, had my home unlawfully foreclosed though their real estate and political connections, they claimed they I had hurt many people in the Barrington area by having a nice home and cars without working my way up the corporate ladder, not using inside connections and freinds and most importantly not using other peoples money and labor to create wealth and destroying the towns image by wearing blue jeans and not having a business haircut. My fathers constant mantra was always borrow as much as possible and use as much of others people's money as possible to make money with.
They feel they have no other choice because they can't compete with others through savings, wise investments and productivity.
All the corporate crooks I know say the same thing life dealt them a bad deck of cards and they had right to get ahead at others expense.
Barrington is known as an old Mafia town and it still has a criminal element that believes common people are supposed to be used to enrich the upper class, even though they themselves are just about as far away in percentage of wealth from Bill Gates or Warren Buffet as a common factory worker themselves.