“No morals at all” – has anything changed?

The story of Eileen Loiacono, a mortgage underwriter – deciding who her firm should lend to – at the height of the subprime lending bonanza, is a sad tale of fear and greed.

She finally left the industry which had “no morals at all”.

Has anything changed? Have those people suddenly gained integrity? What are they doing now? It is naive to think that banks, fiduciaries, intermediaries, regulators are behaving any better. You must pester them for better performance.

BBC: ‘Some didn’t even know they were getting a loan’


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