--- title: "Meaning & Key Takeaway of: The financial collapse of 2008 got its…" description: "\"The financial collapse of 2008 got its start with predatory mortgages, that weren’t sold by community banks and credit unions, they were sold by fly by..." image: "https://sms4smile.com/quotes/i/a66/elizabeth-warren-879_almost-zero_the-financial-collapse-of-2008-got-its-s_2005917.png" --- # The financial collapse of 2008 got its start with… ![“The financial collapse of 2008 got its start with predatory mortgages, that weren’t sold by community banks and credit unions, they were sold by fly by night mortgage brokers who had almost zero federal oversight and then the big banks looked over, saw the profit potential and they wanted it bad…” quote by Elizabeth Warren](https://sms4smile.com/quotes/i/a66/elizabeth-warren-879_almost-zero_the-financial-collapse-of-2008-got-its-s_2005917.png) [Download](https://sms4smile.com/quotes/i/a66/elizabeth-warren-879_almost-zero_the-financial-collapse-of-2008-got-its-s_2005917.png) [Open image](https://sms4smile.com/quotes/i/a66/elizabeth-warren-879_almost-zero_the-financial-collapse-of-2008-got-its-s_2005917.png) > “The financial collapse of 2008 got its start with predatory mortgages, that weren’t sold by community banks and credit unions, they were sold by fly by night mortgage brokers who had almost zero federal oversight and then the big banks looked over, saw the profit potential and they wanted it bad. So they jumped in and sold millions of these terrible mortgages while the bank regulators just looked the other way.” [Elizabeth Warren](https://sms4smile.com/quotes/author/elizabeth-warren/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. The 2008 crisis stemmed from reckless mortgage practices and lax regulation, enabling massive profit-driven risk. **In simple terms:** Bad loans and weak oversight caused the crash. Key Takeaway Demand stronger oversight and ethical lending. Themes economics regulation ethics Mood critical concerned Type analytical political When to use this quote - policy reform - consumer protection - banking oversight - investor education Key Concepts financial risk systemic failure corporate greed Questions to Reflect On - What incentives drive risky lending? - How can oversight balance innovation and safety? A Different Perspective Regulation alone may not prevent all abuses without cultural change. ★ ★ ★ ★ ★ No ratings yet [Brokers](https://sms4smile.com/quotes/about/brokers/) [Collapse](https://sms4smile.com/quotes/about/collapse/) [Community](https://sms4smile.com/quotes/about/community/) [Credit](https://sms4smile.com/quotes/about/credit/) [Credit unions](https://sms4smile.com/quotes/about/credit-unions/) [Customer](https://sms4smile.com/quotes/about/customer/) [Money](https://sms4smile.com/quotes/about/money/) [Night](https://sms4smile.com/quotes/about/night/) [Profit](https://sms4smile.com/quotes/about/profit/) [Regulators](https://sms4smile.com/quotes/about/regulators/) [Unions](https://sms4smile.com/quotes/about/unions/) ## Related quotes > [The same with the mortgage brokers that were selling people mortgages they couldn't afford. We shouldn't pay them on each mortgage they write. 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