Subprime Mortgage Crisis Quotes

The banking collapse was caused, more than anything, by bad government policy and the total failure of bad regulation, rather than by greed.

The only surprise about the economic crisis of 2008 was that it came as a surprise to so many.

You had the Crash [Meltdown] of 2008, where the financial system actually collapsed and had to be put on life support, which consisted of substituting sovereign credit for the financial credit that was no longer credible.

Wall Street excesses helped lead to the Great Recession.

When George W. Bush tried to roll back taxpayer exposure to a housing crash via Fannie and Freddie, guess what two senators joined a filibuster of the Bush initiative? Yep... those saviors of the working class, Barack Obama and Hillary Clinton. They went to bat for the housing industry and voted to allow taxpayer exposure to escalate.

There is plenty of blame to go around for the U.S. housing bubble, but not much of it belongs to Fannie Mae and Freddie Mac. The two giant housing-finance institutions made many mistakes over the decades, some of them real whoppers, but causing house prices to soar and then crater during the past decade weren't among them.

I am not responsible for the financial crisis, I hate to tell you.

Millions of Americans were duped by the federal government and the Federal Reserve into buying homes they could not afford and failed to count the cost. When the financial crisis of 2008 hit, they could not keep up the monthly mortgage payments and defaulted.

Prior to the 2008 recession, many financial institutions were engaging in 'proprietary lending,' where a bank would invest funds for its own gain instead of earning revenue through commission by trading on behalf of clients.

Who passed Wall Street deregulation that enabled the meltdown of Wall Street and the disappearance of nine million jobs, the theft of 5 million homes?

What caused the economic collapse 2008? It was the subprime mortgage crisis.

The stress on the financial system in the fall of 2007 was significant, but not so significant as to threaten the overall stability of the U.S. economy, although it did lead to the beginning of a recession at the end of 2007.

The collateralized debt obligation, the CDO, is a structure which allows you to more or less continuously choose how much risk you want to take in a whole batch of securities. And the reason why they got us into so much trouble is that it's hard to figure out how much risk you really are taking.

What began as a subprime lending problem has spread to other, less risky mortgages and contributed to excess home inventories that have pushed down home prices for responsible homeowners.

With every year that passes, the more we have to be careful not to forget the causes and consequences of the Great Recession.

Investigating some of the largest subprime lenders - Wells Fargo, Countrywide, Ameriquest, Household Finance - I've seen how their terrible, toxic loans were closed by any means necessary and eventually packaged, sold as securities, and bet upon until they exploded and decimated our economy.

The financial and economic crash of 2008, the worst in over 75 years, is a major geopolitical setback for the United States and Europe.

The financial crisis involved significant failures in the functioning, regulation, and supervision of OTC derivatives markets.

Cruz named Former Texas Senator Phil Gramm as his economic guru. This guy virtually crashed the U.S. economy. Gramm is largely responsible for two bills which led to the speculative bubble which popped in September 2008.

This crisis exposed very significant problems in the financial systems of the United States and some other major economies. Innovation got too far out in front of the knowledge of risk.

Food Stamp recipients didn't cause the financial crisis; recklessness on Wall Street did.

The thought for a long time was that banks needed to be too controlled, too regulated to be turned over to the Wild West of the Net. Then the credit meltdown hit, and we saw just how reckless these so-called safe and regulated institutions were.

The financial crisis that began in the summer of 2007 was an extraordinarily complex event with multiple causes.

The billionaire founder of investment firm Elliott Management was one of several investors who warned financial ministers in 2007 that a crack in the housing market could cause huge problems for the banking industry.

My old firm, Goldman Sachs - traditionally, the best banks are leveraged 8:1. When we had the financial crisis in 2008, the investment banks were leveraged 35:1. Those rules had specifically been changed by a guy named Hank Paulson. He was secretary of Treasury.