First, read this BusinessWeek story on the frenzy of sexual favors and White-out that defined the world of mortgage wholesaling; then try this piece from Slate in defense of the CRA and the handful of subprime lenders who actually made the effort to look for buyers who might want to pay back a loan. Hint if you’re pressed for time: the first piece is much more lurid, but the second one gives you an opportunity to scoff at the fact that right now Dick Fuld probably couldn’t even get a mortgage on a flat in the South Bronx, so really they are both worth a read.