Quote of the Day: Subprime Lending
| Sun Apr. 18, 2010 8:10 PM PDT
From 13 Bankers, by Simon Johnson and James Kwak:
Before the market for private mortgage-backed securities took off in the 1990s, subprime lending was constrained by the fact that subprime lenders wanted to be paid back.
Indeed. There is something remarkable about living in a world in which this sentence can not only be written, but actually makes sense.
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