They got caught with their pants down.

They have been lending money for a very long time on personal and auto loans at high interest. Making tons of money at it I mmight add.

Then they thought they were going to make a killing in the mortgage market.

The bottom fell out and got caught in their own game.

They expected the sub prime borrowers to pay on time just like the low interest borrowers. That did not happen.

I do not feel sorry for the sub prime lenders.

Their phone collection policies are just like mob tactics also.

They have been raping sub prime borrowers for decades.