[diognesofsinope]

For the record, the evidence of 'widespread' fraud is extremely weak:

See Antoinette Schoar's (MIT) work: https://www.nber.org/papers/w20848

It makes for a good news story that regular Americans understand and frankly want to hear (the banks were bad). But if you really dig into the reports, e.g. Financial Crisis Inquiry Report, almost the only fraud comes from misreporting of income which is essentially consumers lying. There could be other documentation issues, but underwriting almost entirely depends on credit score + income, so they're fairly trivial.