History Repeats Itself in the Real Estate and Banking System

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The 2008 financial crisis led to improvements in the real estate and banking system, but the situation has deteriorated again. Loans with low qualifications and no income requirements, previously known as liar loans, are resurfacing under different names. This cycle of corruption seems to persist, posing the challenge of finding a balance between preventing manipulation and enabling access to loans for the average person.

Matthew Cox is a former con man who served 13 years in federal prison for bank fraud, mortgage fraud, and identity theft. He is the author of many books, including his memoir Shark in the Housing Pool, and runs the YouTube channel Inside True Crime. Please support this podcast by checking out our sponsors:
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Transcript: https://lexfridman.com/matthew-cox-transcript

EPISODE LINKS:
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OUTLINE:
Here’s the timestamps for the episode. On some podcast players you should be able to click the timestamp to jump to that time.
(00:00) – Introduction
(08:43) – Mortgage fraud
(23:32) – Creating fake people
(57:17) – Arrested by FBI
(1:14:08) – Omerta: Code of silence
(1:36:26) – Fake ID’s
(2:05:48) – Getting caught
(2:19:12) – Going on the run from FBI
(2:30:54) – Identity theft
(2:51:34) – More scams
(3:03:23) – FBI Most Wanted
(3:05:51) – Close calls
(3:36:46) – Break up with Becky
(3:41:26) – Calling parents
(3:43:25) – Calling FBI
(3:49:06) – Running from cops
(4:10:56) – Getting arrested
(4:26:21) – Snitching
(4:42:35) – Prison
(5:00:08) – War dogs
(5:06:50) – Frank Amodeo
(5:42:21) – Freedom
(5:53:15) – Family
(5:59:19) – Regret