Bethany McLean Quotes

12 quotes in 203 categories

• The last and most painful irony is that the two longtime rival armies in the securitization market - the investment banks and the GSEs -…
• Building a portfolio around index funds isn’t really settling for the average. It’s just refusing to believe in magic.
• In capital we trust. Capital is our savior, our holy grail, our fountain of youth, or at least health, for banks.
• Home ownership was the fig leaf for the rise in subprime lending. But that was really about cash-out refinancings, not buying homes.
• Fixing Fannie Mae and Freddie Mac in isolation, without looking at the big picture, would be short-sighted.
• When Warren Buffett invests in a company, he is conferring upon that company something very unique: his credibility.
• The big banks advise cities about whether privatization is a wise choice. They also control the ability of states and cities to access the market…
• Privatization of assets that most of us consider public goods - like airports and highways - has a long, often-uncontroversial history.
• Proponents of privatization argued that cities and states needed private capital to fund all the upgrades that our decaying infrastructure so desperately needed.
• No city embraced privatization more eagerly than Chicago, where I live.
• Before Enron, I think people were a bit more naive about the way things worked, and I think Enron pulled the curtain back on unsavoury…
• Google worries - and rightly so - about how hard it is for a big company to come up with the next hot thing.

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