"Yes Timber nothing illegal about NINJA loans, but the aggressive way in which they were sold to people who shouldn't have qualified for a loan is the issue.
And then bundling them up in CDO's and rating them AAA and selling them around the world, someone should gone to jail."
lets dissect....
"Yes Timber nothing illegal about NINJA loans".... possibly / probably correct that there was nothing illegal with the actual loans (though signing issues were idenfified)
"but the aggressive way in which they were sold to people who shouldn't have qualified for a loan is the issue." yes, but marketing something aggressively isn't an issue either is it? ;-)
"And then bundling them up in CDO's and rating them AAA and selling them around the world" outright fraud
see how the slime, just like the actual loans, bundled honesty and crime together and sold the honesty as their defense......textbook fraud as championed by fraudsters, con artists and psychopaths alike.....
they are so used to it now they don't even realise when they have outted themselves......
