Paul Bishop's Truth behind the World Savings Bank Fiasco
We all know that the reason we are in this economic recession is primarily due to the abundance of bad loans that were issued by banks. Below is a 60 Minutes story of a mortgage salesman named Paul Bishop who discusses the demise of World Savings and the reason why Wachovia inherited billions of dollars in debt when they acquired this bank. This is a very interesting video and now I know why Wachovia was another victim of the sub prime mortgage market.
