In 5 years all of those trusts will have merged into Small Business Loans of America Corporation, and all the loans will be sold on the derivatives market within a month of origination, and an army of loan brokers will individual figure out how to massage the paperwork originate a bogus loan and collect a commission.

We've done this already.

At best, we might have the benefit of the fraud benefiting a million individuals, like in the housing bubble, instead of a handful, like in the S&L days.