It was a bit more complicated than that.

Also, subprime and poorly documented loans (mortgages in the case of the financial crisis) with teaser rates that eventually reset to a rate unaffordable to the borrower can absolutely be predatory when coupled with brokerages incentivizing brokers to sign up financially illiterate folks for loans they will eventually not be able to afford knowing the brokerage will move the risk off their books within days or weeks.