My knowledge and understanding of how the banking industry in this capitalist society works comes from studying it over the last three decades, receiving a masters degree in Economics from Sacramento State University, and working in the community banking and credit union industries in an executive capacity for as long as I could stand it......Understanding the mortgage meltdown isn't very difficult. If you have a mortgage loan then without knowing you I can tell you that the bank that originally approved your loan is not the same bank that services your loan today. Why? What happened is the greedy capitalist investors who purchase securities on the secondary market that was managed by Fannie Mae and Freddy Mac, encouraged banks to approve higher risk loans. This is how the stated income phenomenon became so common. The banks weren't concerned about booking these suspect loans because they knew they would sell them the very next day. The investors encouraged them to batch up these high priced loans (high interest rates) which of course increased the profit margin. The investors purchased these batched loans and they were quickly unloaded. All of this could happen before you made your first payment. So when you became unable to pay your mortgage the investors couldn't care less because they had already made their money. Besides, these corporate bandits knew the banks would be bailed out.....By you, me, and every working person by the stimulus package! Just a quick lesson on how this thing goes down. So don't blame people because they got foreclosed on. Banks have a responsibility to only put solid loans on the books. If you come to me to borrow money and I know you can't pay it back, but I give it to you anyway, whose fault is it really? Next we'll talk about finance capital in the underdeveloped world....primarily the international monetary fund's impact in Africa.............For you simple minded racists....Can you try and be a little more original? The stuff you are posting is boring, regurgatated garbage from the 50s...C'mon...."Recruited by communists?"......You must be able to do better than that tired out McCarthy argument.