“I’ve read it in the press that Alt-A lending is ‘in between’ prime and subprime lending. Well, that’s true but not very accurate given the facts."
- Toxic Liar's Loan (Alt-A) lender IndyMac's yet-to-be-arrested CEO Michale Perry in March 2007, 16 months before his mortgage-fraud-infested ponzi scheme of a company collapsed and was seized by the Federal government
(they called them "liar's loans" for a reason folks. And mortgage fraud used to be a crime in America.)
