they know
I still have no fucking idea. But US radio programme This American Life has an incredibly colourful, in-depth explanation about just how it started. It’s pretty much identical to what happened with buy-to-let mortgages here.
They interview people at the epicentre of the shit storm, including a young barman-turned-mortgage salesman who, at the height of the cheap mortgage boom, was making, $70, 000 a week in commissions.
