alt Hacker NewsIf lenders are in fact not performing due diligence and passing off good credit as bad...sounds suspiciously like a 2008-like era where noone cared about the credit worthiness but just wanted to generate lines of credit.
Oh boy, if this is the case, oh boy.
Lessons not learned indeed.
Remember, the lesson was that Daddy Government won’t let you fail. Barring any federal regulations, there’s no reason for financial entities to not repeat the exact “mistakes” that caused the 2008 (2007) Great Recession.
The lesson isn’t being ignored- it’s being used as justification.