The Mortgage Crisis Caused By Lower Lending Standards

The speaker discusses how the mortgage crisis was a direct result of lenders having lower loan qualification standards.  He believes that the term "infectious greed" took over the lending industry with bottom dwellers who were only concerned about the fee that they would receive for originating the loan.  They did not care if the borrower could actually pay the loan off and would do whatever it took to give the borrower the biggest loan that they possibly could in order to reap the largest fee.  This was essentially predatory lending which is a major factor in the credit bubble bursting.