I just read this excerpt of life in the sub-prime trenches according to author Michael Hudson. It is a stunning account. Unfortunately the new financial regulation policies do not address most of what was going on.
http://www.investorsinsight.com/blogs/john_mauldins_outside_the_box/archive/2010/10/25/how-a-gang-of-predatory-lenders-and-wall-street-bankers-fleeced-america-and-spawned-a-global-crisis.aspx
