I was in a group doing arbitrage. I can't say anything first-hand about mortgages.

Real-estate people (not including architects) are scummy. All of them. It's the filthiest business around. Real-estate finance people are bound to be scummy. I agree.

I wasn't saying, "There are no slimeballs in finance". I just think that, from a boots on the ground perspective, there isn't much difference between Wall Street and the hottest startups of VC-istan.