Quote by Patricia Crisafulli

“Mortgages were less about getting people into property than getting them into debt. Someone had to absorb the surplus supply of credit.”

— Douglas Rushkoff

“The sudden introduction of these magic mortgage bonds into the marketplace pushed most every major institutional investor in the world to suddenly become consumed…

— Matt Taibbi

“We were taking out mortgages we couldn’t afford because they were camouflaged to look as if we had a reasonable chance of paying them…

— Douglas Rushkoff

“Back in July 2003, he’d written them a long essay on the causes and consequences of what he took to be a likely housing…

— Michael Lewis

The decline in home equity makes it more difficult for struggling homeowners to refinance and reduces the financial incentive of stressed borrowers to remain…

— Ben Bernanke

I had begun to worry about the housing market back in 2003, when lenders first resurrected interest-only mortgages, loosening their credit standards to generate…

— Michael Burry

What began as a subprime lending problem has spread to other, less risky mortgages and contributed to excess home inventories that have pushed down…

— Henry Paulson

In the 1930s, there was a stretch where you could borrow more against the real estate than you could sell it for. I think…

— Charlie Munger

House prices just soared beyond - beyond reason in many places and they got financed in silly ways, and people lied about loans, all…

— Warren Buffett

“All crisis have involved debt that, in one fashion or another, has become dangerously out of scale in relation to the underlying means of…

— John Kenneth Galbraith

Homeowners who refinanced their mortgages took out cash and reduced their monthly payments at the same time. Much of the cash obtained by refinancing…

— Martin Feldstein

It's true that monetary policy was too lax for too long, and the government encouraged lending to people who were unlikely to repay their…

— Paul Singer