"I made a mistake in presuming that the self-interests of organisations, specifically banks and others, were such that they were best capable of protecting their own shareholders and their equity in the firms."

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The people who are taking these loans because it's the only way they can afford their house are exposing themselves to a lot of risk. They're not saving money and they're not building equity, which means they could find themselves in a scenario where they owe more money than their house is worth.

— Ric Edelman