Blame Quote by Lisa Madigan
“Much of the blame for the Great Recession lies with abuses in the housing market - namely the creation of risky and unsustainable home loans that were packaged and sold as quality investments around the globe.”
About This Quote
Source Speech: Senate Hearing on Financial Regulation, 2009
The recession was driven by risky, unsustainable home loans marketed as safe investments worldwide.
In simple terms: Bad home loans caused the recession.
Key Takeaway
Demand stricter loan standards.
Themes
economics
financial crisis
regulation
Mood
cautious
concerned
Type
policy
educational
When to use this quote
- bank lending
- homebuyer counseling
- policy reform
- investment analysis
Key Concepts
subprime mortgages
systemic risk
market failure
Questions to Reflect On
- What safeguards could prevent future crises?
- How can consumers identify risky loans?
A Different Perspective
Political opposition may block reforms.
![“Even though the play [ The Best Man] was written a long time ago, the characters seem modern and their struggles to make ends meet and to "have a little fun along the way" have a very contemporary feel. The similarity between the The Great Depression and The Great Recession - as well as the gulf…” quote by Chris Hart](https://sms4smile.com/quotes/img-quotes/b96/chris-hart-47474_accentuate_even-though-the-play-the-best-man-was-wr_681461.jpg)
