A plan for a mortgage-crisis-free future

Image courtesy Wiley.

Reading "Confessions of a Subprime Lender: An Insider's Tale of Greed, Fraud and Ignorance," by former subprime mortgage lending company co-owner Richard Bitner, was reminiscent of reading Antonia Frasier's "Marie Antoinette" -- the historical facts and anecdotes woven together create an excruciating sense of dread and suspense, despite the fact that every reader knows from the outset exactly how the story ends. "Confessions," the trade-published edition of a formerly self-published book, is a historical retelling of the rise and fall of the subprime lending industry, which just so happened to take America's homeowners and economy along with it for the ride -- in both directions.

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