Much of the securitization took the form of collateralized debt obligations (CDOs) with senior credit tranches certified by rating agencies as AAA. It was the failure to properly price such risky assets that characterized the crisis.
Even the most wretched individual of our present society could not exist and develop without the cumulative social efforts of countless generations. Thus the individual, his freedom and reason, are the products of society, and not vice versa: society is not the product of individuals comprising it; and the higher, the more fully the individual is developed, the greater his freedom — and the more he is the product of society, the more does he receive from society and the greater his debt to it.mikhail bakunin
It's hard for writers to get on with their work if they are convinced that they owe a concrete debt to experience and cannot allow themselves the privilege of ranging freely through social classes and professional specialties. A certain pride in their own experience, perhaps a sense of the property rights of others in their experience, holds them back.Saul Bellow
By Christ's purchasing redemption, two things are intended, His satisfaction, and His merit. All is done by the price that Christ lays down, which does two things: it pays our debt, and so it satisfies; by its intrinsic value, and by the agreement between the Father and the Son it procures our title, and so it merits. The satisfaction of Christ is to free us from misery, and the merit of Christ is to purchase happiness for us.jonathan edwards
Of course, shedding the debt burden would be a happy development for our country, but it would nevertheless pose a big dilemma for the Fed. Our primary lever of monetary policy was buying and selling treasury securities-Uncle Sam's IOU's. But as the debt was paid down, those securities would grow scarce, leaving the Fed in need of a new set of assets to effect monetary policy.Alan Greenspan
When Hume and Adam Smith prophesied that a little increase of national debt beyond the then amount of it, would probably occasion bankruptcy; the main cause of their error was the natural one, of not being able to see the vast increase of productive power to which the nation would subsequently obtain.thomas malthus
Science does not know its debt to imagination.Ralph Waldo Emerson, in Poetry and Imagination (1872)
Lyin' awake in a cold, cold sweat Am I overdrawn, am I going in debt? It gets worse, the older that you get No escape from the state of confusion I'm in State of confusion I'm inRay Davies, in "State of Confusion" on State of Confusion (1983) by The Kinks
As in the beginning, so now, and it will be for ever after, we come of a race who are very bad managers in youth, though we improve as we get older. I have cut down the cost of my falconers to 1200 florins, and I hope soon to be out of debt.William writing to his brother Louis, as quoted in William the Silent (1902) by Frederic Harrison, p. 10
[United States Senate Committee on Finance] Staff views it as inappropriate for a hospital to seek payment from a patient by sending a bill, (and) when payment is not received, to seek to recharacterize that debt as charity care. In addition, staff has found that the decision by some hospitals to include bad debt which often consists of very high charges from the (chargemaster list) provides a misleading and inflated accounting of a hospital 's charity care to policymakers and the public.United States Senate Committee on Finance staff, cited in: Naples Daily News staff (September 23, 2007). "Nonprofits hope IRS more responsive to them". Naples Daily News (Florida).
Blessed are the young, for they shall inherit the national debt.Herbert Hoover, Address to the Nebraska Republican Conference, Lincoln, Nebraska (16 January 1936)
And to preserve their independence, we must not let our rulers load us with perpetual debt. We must make our election between economy and liberty, or profusion and servitude.Thomas Jefferson, letter to Samuel Kercheval, July 12, 1816, reported in ed., The Writings of Thomas Jefferson, Paul L. Ford, vol. 10, p. 41 (1899).
The kiss you take is paid by that you give. The joy is mutual, and I'm still in debt.George Granville, 1st Baron Lansdowne), Heroic Love, Act V, scene 1.
Drinking water neither makes a man sick, nor in debt, nor his wife a widow.John Neal, reported in Josiah Hotchkiss Gilbert, Dictionary of Burning Words of Brilliant Writers (1895), p. 576.
I think the Iraqi people owe the American people a huge debt of gratitude and I believe most Iraqis express that.George W. Bush, January 13, 2007