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Thus rationalized, bad loans were made.
Loans were made to bank officers.
Many of these troubled loans were made in 2007 and 2008 as the market was plunging.
The loans were made on the condition that the account not dip below $1 million.
(The other two loans were made the next month, for $10 million each).
Loans were made, then bundled and sold in securitizations to investors, and these were traded again.
Many of these loans were made to board members active in the construction industry.
The company said 90percentt of its loans were made through Countrywide Bank.
The truth is, when these loans were made, nobody ever expected that they would be repaid.
The U.S. deficit would increase if direct government loans were made dischargeable.
Over half the mortgage loans were made by independent lenders without any federal supervision".
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