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— Jack Kemp"The real problem is deflation. That is the opposite of inflation but equally serious to the borrower."
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The borrowers will always be willing to take a great deal for themselves. It’s up to the lenders to show restraint, and when they lose it, watch out.
— Michael Burry
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What the mortgage bubble was all about was big banks like Goldman Sachs taking big bundles of subprime mortgages that were lent out largely to low-income, highly risky borrowers, and applying this kind of magic-pixie-dust math to these bundles of securities and slapping AAA ratings on them.
— Matt Taibbi
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