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.
Love is in the pleasure of possession, but in the Love of Allah there is no pleasure of possession, because the stations of the Reality are wonderment, the cancelling of the debt which is owed, and the blinding of vision. The Love of the human being for God is a reverence which penetrates the very depths of his being, and which is not permitted to be given except to Allah alone. The Love of Allah for the human being is that He Himself gives proof of Himself, not revealing Himself to anything that is not He.al-hallaj
Religious believers of the world, you are free to continue to debate the simple, narrow question that divides you from atheists, but you have no right, in so doing, to treat the Humanists of the world with contempt. You owe them a deep debt of gratitude, for not only have they shed much light on a naturally dark world but they have very probably helped civilize your own specific religion.steve allen
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
Obviously, he was the first — he was the Governor. Right from the start with those very precocious sketches for the Cambridge Footlights and through Beyond the Fringe, he was an exceptional talent... Every 10 years or so you always get a new generation of comedians but they all acknowledge their debt to Peter.Peter Cook
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
The resolution of our current account deficit and household debt burdens does not strike me as overly worrisome, but that is certainly not the case for our fiscal deficit, which, according to the Congressional Budget Office, will rise significantly as the baby boomers start to retire in 2008. Our fiscal prospects are, in my judgment, a significant obstacle to long-term stability because the budget deficit is not readily subject to correction by market forces that stabilize other imbalances.Alan Greenspan
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
Owners of capital will stimulate working class to buy more and more of expensive goods, houses and technology, pushing them to take more and more expensive credits, until their debt becomes unbearable. The unpaid debt will lead to bankruptcy of banks which will have to be nationalized and State will have to take the road which will eventually lead to communism.karl marx
Science does not know its debt to imagination.Ralph Waldo Emerson, in Poetry and Imagination (1872)
Confess debt, and beg days. Confessing a fault makes half amends for it.William Winstanley, New Help to Discourse (ed. 1721), p. 134.
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
I have long argued that paying down the national debt is beneficial for the economy: it keeps interest rates lower than they otherwise would be and frees savings to finance increases in the capital stock, thereby boosting productivity and real incomes.Alan Greenspan, speech (April 27, 2001), reported in Ethan Pope, Social Security: What's in It for You (2005), p. p. 133.
First in point of time and interest comes the mortgage debt, i.e. the claim for the return of money lent on the security of some tangible object. Such claims are among the earliest fruits of a commercial civilization, and are nearly always affected the same way, viz. by the deposit or pledge of the security with the creditor, to be redeemed or returned on the payment of the debt.Chapter IX, The Law Of Personal Property, p. 123
Is there no reconciliation of some ancient quarrel, no payment of some long outstanding debt, no courtesy or love or honor to be rendered to those to whom it has long been due; no charitable, humble, kind, useful deed, by which you can promote the glory of God, or good-will among men, or peace upon earth? If there be any such, I beseech you, in God's name, in Christ's name, go and do it.Arthur Penrhyn Stanley, p. 204. (Dictionary of Burning Words of Brilliant Writers (1895))
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, p. 489. (Dictionary of Burning Words of Brilliant Writers (1895))
The debt that all men must pay...Who: Thomas Gates (Benjamin Gates' great-great-grandfather)
( Zakat ) charity is only for the poor and the needy, and those employed to administer it, and those whose hearts are made to incline (to truth), and (to free) the captives, and those in debt, and in the way of Allah and for the wayfarer -- an ordinance from Allah. And Allah is Knowing, Wise.60 Maulana Muhammad Ali translation