Amen brother!

It’s all part of what makes the bailout so hard to push on the public too. The way it’s supposed to work is companies that engage in these kinds of activities fail when things catch up with them. Of course, these banks are “too big to fail” so they basically get away with it.

It’s a big mess.

“Do you think you can afford this loan?”
“Ummm… sure!”
“Here you go!”

Even people with “non traditional” income sources like tips or self employment income should be able to produce tax returns verifying their income claims. If not, they’re either lying on their taxes or haven’t been in that business long enough to have made any filings, and in either case they’re not great loan candidates.