about the loan, you think they have, and you just sign. >> i just feel so stupid. >> the whole system was designed to go after people with marginal means and put them in the highest cost loan possible. because those are the loans that paid the most fees. >> the banks didn't have to care anymore about whether the loan got paid back because the loan had been sold to wall street. >> instead of keeping the dicey loans in their own portfolios, the big banks and giant mortgage companies that originally underwrote them sold them off to big new york investment houses. >> firms like bear stearns and merrill lynch sliced them into little is piece pieces, packaged them up and sold them as high yield mortgage-backed securities, turning sow's ears into silk purses. >> they would take a thousand, put them into a package and cut them into a thousand pieces and then sell the pieces as a much