Lenders: Visions of profit fueled risky loans  NORTH COUNTY --
For years now, many people caught up in California's biggest
housing boom have wondered what possessed lenders to make so
many risky mortgages -- such as loans to homeowners with bad
credit histories and "liar loans" that require no income
verification.  At a conference held this week at the La Costa
Resort, some mortgage industry leaders revealed what had been on
their minds during the frenzy: They knew there was risk, but did
it anyway because there was so much money to be made.  "Remember
what your mother said, 'If Johnny jumps off the Empire State
Building, (would) you?' Well, we did," said George Eshaghian,
executive vice president and general counsel of WMC Mortgage in
Burbank, a major seller of subprime loans and a division of
General Electric. Eshaghian, a panelist at the Opal Financial
Group's Housing Finance Summit on Thursday, said his opinions
were not those of his company.  Subprime mortgages are those
made to borrowers because of spo