14
Nov
Subprime: Borne of Sleaze, Bribery, and Lies (BusinessWeek Online)
Filed Under (Finance) by on 14-11-2008
BusinessWeek Online - It may seem like ancient history now, but not long ago the mortgage industry was turning ordinary people into millionaires. One of them was Sharmen Lane, a high school dropout who, like many other young women during the boom, found her way into an obscure banking job with the clunky title “mortgage wholesaler.” Her experience — and the experiences of other wholesalers like her — offers a glimpse into the recklessness and indulgence that drove the industry to ruin.
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