What happens when you find out that 90 percent of all WaMu's home equity loans are stated income, and you find out that 73 percent of all Option ARMs are stated income, and 50 percent of your subprime loans are stated income?
Questioning the prevalence of stated income loans among various loan types.
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More from Ted Kaufman
A paper tiger that will fall apart the minute it is tested in a real life financial crisis
Widespread cheating and fraud of the sort that drove the speculative housing and derivatives securities bubbles are anathema to public confidence in the markets.
We have got to get away from this too-big-to-fail. It is bad in so many different ways in terms of the concept.
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