Why is your number so different from that of people who have a lot more information than you?
People who are a lot smarter and had much better information than me thought that loaning $300,000 to a minimum wage immigrant (one anecdote among hundreds of thousands) was a highly profitable business, too. For eight of the last ten years they were looking pretty prescient now weren't they.
No need to bring immigration status into it. Frankly loaning huge sums of money to people with poor credit ratings and not enough income to pay it off with if they wanted to was a horrible idea, and yet tons of "smart" people made it their primary business. And yes, some of them actually got very rich from doing it. Doesn't mean I want to do business like that.
There were in fact some people who worked at banks who refused to participate in the fraudulent lending activity, falsification of income statements, no-doc loans etc. - they quit or were fired.
It may be "reasonable" to engage in fraud when the government is enabling it - but its not honest. Hopefully our country can come to a point in the future where being honest is viewed as the "reasonable" thing to do.
People who are a lot smarter and had much better information than me thought that loaning $300,000 to a minimum wage immigrant (one anecdote among hundreds of thousands) was a highly profitable business, too. For eight of the last ten years they were looking pretty prescient now weren't they.