recession

Link	Quote	Tags	Author
457b2a4	Suckers think that you cure greed with money, addiction with substances, expert problems with experts, banking with bankers, economics with economists, and debt crises with debt spending	banking expertise experts recessions recession economics finance	Nassim Nicholas Taleb
3bc7ce5	The CDO was, in effect, a credit laundering service for the residents of Lower Middle Class America. For Wall Street it was a machine that turned lead into gold.	recession wall-street	Michael Lewis
3e16906	In Bakersfield, California, a Mexican strawberry picker with an income of $14,000 and no English was lent every penny he needed to buy a house for $724,000.	real-estate recession	Michael Lewis
dde2eeb	"When you're a conservative Republican, you never think people are making money by ripping other people off," he said. His mind was now fully open to the possibility. "I now realized there was an entire industry, called consumer finance, that basically existed to rip people off."	republican fraud mortgage-loans steve-eisman recession wall-street	Michael Lewis
6df3eb7	What are the odds that people will make smart decisions about money if they don't need to make smart decisions--if they can get rich making dumb decisions?	money recession	Michael Lewis
e6760b7	The one plentiful herds of magazine writers would continue to be culled - by the Internet, by the recession, by the American public, who would rather watch TV or play video games or electronically inform friends that, like, 'rain sucks!' But there's no app for a bourbon buzz on a warm day in a cool, dark bar. The world will always want a drink.	drinking change bar electronic-software the-public the-recession electronic-revolution bourbon new-age electronics the-future video-games the-internet recession tv alcohol the-past electronic-books americans changes technology sarcasm	Gillian Flynn
0a0f7e7	"Because the lenders sold many--though not all--of the loans they made to other investors, in the form of mortgage bonds, the industry was also fraught with moral hazard. "It was a fast-buck business," says Jacobs. "Any business where you can sell a product and make money without having to worry how the product performs is going to attract sleazy people."	recession wall-street	Michael Lewis
901c159	"They had stumbled either upon a serious flaw in modern financial markets or into a great gambling run. Characteristically, they were not sure which it was. As Charlie pointed out, "It's really hard to know when you're lucky and when you're smart."	cornwall-capital credit-default-swaps james-mai subprime-mortgage-bonds recession wall-street	Michael Lewis
9b4d61f	The creation of the mortgage bond market, a decade earlier, had extended Wall Street into a place it had never before been: the debts of ordinary Americans.	mortgage-bonds recession wall-street	Michael Lewis
7904677	"The simple measure of sanity in housing prices, Zelman argued, was the ratio of median home price to income. Historically, in the United States, it ran around 3:1; by late 2004, it had risen nationally, to 4:1. "All these people were saying it was nearly as high in some other countries," says Zelman. "But the problem wasn't just that it was four to one. In Los Angeles it was ten to one and in Miami, eight-point-five to one."	real-estate recession	Michael Lewis
0a3f545	You know what? We need a recession in this country, because that would finaly weed out al the subnormal, underdeveloped, stupefied, puerile people in this workforce.	stupidity funny employement jobless joblessness unemployed recession need stupid	Jen Lancaster
50182ea	The most empowering thing you can do though is to create innovative ways to bring in livable wages. That begins with a debt free lifestyle.	money motivation empowerment success life finances recession stay-woke wages debt	Brandi L. Bates

457b2a4

Suckers think that you cure greed with money, addiction with substances, expert problems with experts, banking with bankers, economics with economists, and debt crises with debt spending

banking expertise experts recessions recession economics finance

Nassim Nicholas Taleb

3bc7ce5

The CDO was, in effect, a credit laundering service for the residents of Lower Middle Class America. For Wall Street it was a machine that turned lead into gold.

recession wall-street

Michael Lewis

3e16906

In Bakersfield, California, a Mexican strawberry picker with an income of $14,000 and no English was lent every penny he needed to buy a house for $724,000.

real-estate recession

Michael Lewis

dde2eeb

"When you're a conservative Republican, you never think people are making money by ripping other people off," he said. His mind was now fully open to the possibility. "I now realized there was an entire industry, called consumer finance, that basically existed to rip people off."

republican fraud mortgage-loans steve-eisman recession wall-street

Michael Lewis

6df3eb7

What are the odds that people will make smart decisions about money if they don't need to make smart decisions--if they can get rich making dumb decisions?

money recession

Michael Lewis

e6760b7

The one plentiful herds of magazine writers would continue to be culled - by the Internet, by the recession, by the American public, who would rather watch TV or play video games or electronically inform friends that, like, 'rain sucks!' But there's no app for a bourbon buzz on a warm day in a cool, dark bar. The world will always want a drink.

drinking change bar electronic-software the-public the-recession electronic-revolution bourbon new-age electronics the-future video-games the-internet recession tv alcohol the-past electronic-books americans changes technology sarcasm

Gillian Flynn

0a0f7e7

"Because the lenders sold many--though not all--of the loans they made to other investors, in the form of mortgage bonds, the industry was also fraught with moral hazard. "It was a fast-buck business," says Jacobs. "Any business where you can sell a product and make money without having to worry how the product performs is going to attract sleazy people."

recession wall-street

Michael Lewis

901c159

"They had stumbled either upon a serious flaw in modern financial markets or into a great gambling run. Characteristically, they were not sure which it was. As Charlie pointed out, "It's really hard to know when you're lucky and when you're smart."

cornwall-capital credit-default-swaps james-mai subprime-mortgage-bonds recession wall-street

Michael Lewis

9b4d61f

The creation of the mortgage bond market, a decade earlier, had extended Wall Street into a place it had never before been: the debts of ordinary Americans.

mortgage-bonds recession wall-street

Michael Lewis

7904677

"The simple measure of sanity in housing prices, Zelman argued, was the ratio of median home price to income. Historically, in the United States, it ran around 3:1; by late 2004, it had risen nationally, to 4:1. "All these people were saying it was nearly as high in some other countries," says Zelman. "But the problem wasn't just that it was four to one. In Los Angeles it was ten to one and in Miami, eight-point-five to one."

real-estate recession

Michael Lewis

0a3f545

You know what? We need a recession in this country, because that would finaly weed out al the subnormal, underdeveloped, stupefied, puerile people in this workforce.

stupidity funny employement jobless joblessness unemployed recession need stupid

Jen Lancaster

50182ea

The most empowering thing you can do though is to create innovative ways to bring in livable wages. That begins with a debt free lifestyle.

money motivation empowerment success life finances recession stay-woke wages debt

Brandi L. Bates