Give a man a fish and he'll eat for a day. Give a man a sub-prime fish loan and you're in business, buddy.
Incredibly, at this critical juncture in financial history, after which so much changed so quickly, the only constraint in the subprime mortgage market was a shortage of people willing to bet against it.michael lewis
Reckless people have deluded themselves that this was a subprime crisis. But we have problems with credit-card debt, student-loan debt, auto loans, commercial real estate loans, home-equity loans, corporate debt and loans that financed leveraged buyouts... We have a subprime financial system, not a subprime mortgage market.nouriel roubini
I was aware that the loosening of mortgage credit terms for subprime borrowers increased financial risk. But I believed then, as now, that the benefits of broadened home ownership are worth the risk.Alan Greenspan
When you have investment companies losing billions of dollars over something like bundled subprime loans, then you have to consider whether it's important. You probably also want to think about paying off that third mortgage.
In the debate between those who believe in essentially unregulated markets and others who hold that reasonable regulation diminishes market excesses without inhibiting their basic function, the subprime situation unfortunately provides ammunition for the latter view.barney frank