JPMorgan & Chase had a cute name, the “Burger King Kids,” for the workers with little no experience or qualifications it hired to process the reams of mortgages it plowed through at the height of the housing bubble. These walk-in hires “barely knew what a mortgage was,” writes the NYT. The newbies Citigroup and GMAC/Ally Bank outsourced the work to sometimes tossed paperwork into the garbage can. [More]
