[ExI] How do we construct workable institutions and ethical behaviors?

[Kelly Anderson]

2011/12/11 Stefano Vaj <stefano.vaj at gmail.com>:
> Moreover, how would those issuing bad mortgage be "thieves"?

Stefano,

If I knowingly make a highly risky loan with the knowledge that I can
immediately resell it to Fanny, Freddy or some "no questions asked"
wall street investment banker, pocket my fees, and let the next
investor down the line be a "fall guy" for my bad decision, then how
is that not being a thief? I'm at least a con man, selling paper to
the next investor for much more than I believe it to be worth. I don't
even see this as controversial. Where's the confusion?

-Kelly