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Incredibly, at this critical juncture in financial history, after which so much changed so quickly, the only constraint in the subprime mortgage market was a shortage of people willing to bet against it.
-Michael Lewis
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Incredibly, At This Critical Juncture In Financial

Michael Lewis
Incredibly, at this critical juncture in financial history, after which so much changed so quickly, the only constraint in the subprime mortgage market was a shortage of people willing to bet against it.
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People Financial Mortgage

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We economists don't know much, but we do know how to create a shortage. if you want to create a shortage of tomatoes, for example, just pass a law that retailers can't sell tomatoes for more than two cents per pound. instantly you'll have a tomato shortage. it's the same with oil or gas.
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Poverty is not a mortgage on the labor of others-misfortu ne is not a mortgage on achievement-fai lure is not a mortgage on success-sufferi ng is not a claim check, and its relief is not the goal of existence-man is not a sacrificial animal on anyone’s altar nor for anyone’s cause-life is not one huge hospital.
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I don't see (subprime mortgage market troubles) imposing a serious problem. i think it's going to be largely contained.
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Barack obama is telling the banking industry what it can and can't charge and what profit he will accept and what level of profit he won't accept. bill clinton and jimmy carter came up with this scheme that resulted in the subprime mortgage crisis. they said it was unfair that poor and minority people didn't have houses, so we're basically gonna give 'em houses. how are we gonna do that? we're going to make the banks loan them money, knowing full well they can't pay it back.
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If you pay off your mortgage before retirement, you take a huge financial load off your shoulders. you also become eligible to take out a reverse mortgage once you turn 62.
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In the subprime mortgage industry, bankers handed out iffy loans like candy at a parade because such loans meant revenue and, hence, bonuses for executives in the here-and-now.
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