Re: Actually, no
Thanks banks weren't lying (generally, that we know of). The ratings agencies, e.g. Standards and Poor, were lying. They rated packages as AAA when they knew they were no such thing. And the reason for that is almost undoubtedly that the banks wanted them to. So in fact, there was wilful deception involved. The film The Big Short which came out recently is worth watching on the subject.
Biting the hand that feeds IT
