The fraud and malfeasance always comes to light at the end of the cycle. Right now we are just seeing the tip of the iceberg...
First a review of what Generation Madoff didn't learn from the last cycle:
"Greed, greed, and more fucking greed"
"we need to upgrade their Visa card, increase their Visa limits or get them to open up a credit line."
She said the worst part of her job was having young families in her office who agreed to re-mortgage their homes because of debt. "We told them we were helping them, but essentially we were extending more credit so the vicious cycle would ... continue and we, in turn, would make a sale,"
"We've got a culture that exists on greed, lying and deceiving people"
"Those stories, experts say, prompted the largest drop in TD Bank shares since the financial market downturn of 2009."
September 2016, largest U.S. bank:
"The way it worked was that employees moved funds from customers' existing accounts into newly-created ones without their knowledge or consent, regulators say. The CFPB described this practice as "widespread." Customers were being charged for insufficient funds or overdraft fees -- because there wasn't enough money in their original accounts."