News, insight and some thoughts about the Sacramento-area real estate market
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March 21, 2008
Former subprime lender getting his 15 minutes of fame
A couple of months ago a guy in Texas named Richard Bitner sent me a copy of his self-published book, Greed, Fraud and Ignorance: A Subprime Insider's Look at the Mortgage Collapse.
I read parts of the paperback on light rail coming and going to work - and laughed a few times and learned a few things from his irreverent asides on the industry and its practices.
Bitner had a loan business in the subprime world, but sold it just before the industry - according to him - abandoned all traces of common sense and ethics.
Anyway, you might enjoy his 15 minutes of fame and some of his views of the current, ahem, mortgage situation.
JIM WASSERMAN
Bee Business Writer Jim Wasserman was born in Ohio and moved to California in 1979. As a reporter with The Fresno Bee and The Associated Press, Wasserman made a profession of watching California's explosive growth. He joined The Sacramento Bee in 2005 and the next year began covering real estate.SEARCH
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