The Chase “Cheats And Tricks” Memo

``How about some perspective. How prevalent was the problem? In my position as an underwriter I had a pretty good view of things, and got to know the sales force where I last worked. In my estimation, for every sales rep that would not “cut corners”, there were two more that would, and another one whose sole focus was on hammering round pegged loans through square holes. 25% good, 50% potentially dangerous to the bank, and 25% absolutely shameless and corrupted. That’s my anecdotal view.''