“This completed the curious reversal in roles that occurred in the early 1980s, when thrifts became traders and traders thrifts.” — Michael Lewis Copy Share Image
“Many thrifts layered a billion dollars of brand-new loans on top of their existing, disastrous hundred million dollars of old loss-making loans,… — Michael Lewis Copy Share Image
“These Ginnie Maes suck. They get longer [in maturity] when rates go up, and shorter when rates go down, and nobody wants… — Michael Lewis Copy Share Image
