The corruption may be rampant but those aren't "Wall Street" jobs. Countrywide w... | Hacker News

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		rkk3 on Aug 24, 2021 \| parent \| context \| favorite \| on: Why didn’t any Wall Street CEOs go to jail after t... The corruption may be rampant but those aren't "Wall Street" jobs. Countrywide was based out of Calabasas, California.

actually_a_dog on Aug 24, 2021 [–]

There's no way half the loans in a portfolio are fraudulent, and that doesn't get noticed. That includes by the Wall Street firms that are repackaging and securitizing them as CDOs and CDSs. At some point, in a functioning system, that does attract the attention of the CEO.

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