Here is an interesting comment attributed to Steve Sailer that I picked up from the blog of Englishman Chris Brand.

From Steve Sailer's blog: In 2000 a U.S. finance firm sent an email to executives, as follows, "Isn't California full of Latinos? Can Latinos really pay back these giant mortgages we're handing them? If Latinos can't, then who is going to pay even more to move to a neighborhood that we just helped tip Latino? As long as we can bundle them up into CDOs, and sell them them on to some dumb European bankers, who cares if they can't pay off their mortgages?"

This indicates that people in the financial industry were aware of the looming financial crisis. Surely the leaders of the large institutions were aware of the scope of the problem. For example, I was aware that loans were being made to some people who were a questionable credit risk, but I had no idea that people were making $500,0000 no money down mortgage loans to illegal aliens whose income was $15,000 per year. Note that the email talks about Latino's: I have heard that George Bush was the person who had encouraged giving subprime loans to Latinos. For those who do not recall, Bush was not President in the year 2000. It seems to me that the author of the email should be put on trial since he acknowledges in the email that people who buy CDOs will lose their money.