Mortgage Bonds Quotes

They had stumbled either upon a serious flaw in modern financial markets or into a great gambling run. Characteristically, they were not sure which it was. As Charlie pointed out, It's really hard to know when you're lucky and when you're smart. ~ Michael Lewis

When the Goldman Sachs saleswoman called Mike Burry and told him that her firm would be happy to sell him credit default swaps in $100 million chunks, Burry guessed, rightly, that Goldman wasn't ultimately on the other side of his bets. Goldman would never be so stupid as to make huge naked bets that millions of insolvent Americans would repay their home loans. He didn't know who, or why, or how much, but he knew that some giant corporate entity with a triple-A rating was out there selling credit default swaps on subprime mortgage bonds. Only a triple-A-rated corporation could assume such risk, no money down, and no questions asked. Burry was right about this, too, but it would be three years before he knew it. The party on the other side of his bet against subprime mortgage bonds was the triple-A-rated insurance company AIG - American International Group, Inc. ~ Michael Lewis

For though there was no chance of persuading a pension fund manager looking to make a longer-term loan to buy a Freddie Mac bond that could evaporate tomorrow, one could easily sell him the third tranche of a CMO. ~ Michael Lewis

The Germans made just about every bad investment you could have made. They invested in Icelandic banks. They invested in Greek government bonds. They were heavy into Irish banks, big into Irish banks, and they bought U.S. subprime mortgage bonds. ~ Michael Lewis

default swaps on subprime mortgage bonds. Only a triple-A-rated corporation could assume such risk, no money down, and no questions asked. Burry was right about this, too, but it would be three years before he knew it. The party on the other side of his bet against subprime mortgage bonds was the triple-A-rated insurance company AIG - American International Group, Inc. Or, rather, a unit of AIG called AIG FP. AIG Financial Products was created ~ Michael Lewis

The sudden introduction of these magic mortgage bonds into the marketplace pushed most every major institutional investor in the world to suddenly become consumed with the desire to lend money to American home borrowers, even if they didn't know to whom exactly they were lending or how exactly these borrowers were qualifying for their home loans. As a result of this lunatic process, houses in middle- and lower-income neighborhoods from Fresno to the Jersey Shore became jammed full of new home borrowers, millions and millions of them, who in many cases were not equal to the task of making their monthly payments. The situation was tenable so long as housing prices kept rising and these teeming new populations of home borrowers could keep their heads above water, selling or refinancing their way out of trouble if need be. But the instant the arrow began tilting downward, this rapidly expanding death-balloon of phony real estate value inevitably had to - and did - explode. ~ Matt Taibbi

The "consumer loan" piles that Wall Street firms, led by Goldman Sachs, asked AIG FP to insure went from being 2 percent subprime mortgages to being 95 percent subprime mortgages. In a matter of months, AIG FP, in effect, bought $50 billion in triple-B-rated subprime mortgage bonds by insuring them against default. ~ Michael Lewis

This completed the curious reversal in roles that occurred in the early 1980s, when thrifts became traders and traders thrifts. ~ Michael Lewis

Mortgage securities. Pooled together from thousands of mortgages around the United States, these bonds are issued by agencies like the Federal National Mortgage Association ("Fannie Mae") or the Government National Mortgage Association ("Ginnie Mae"). However, they are not backed by the U.S. Treasury, so they sell at higher yields to reflect their greater risk. Mortgage bonds generally underperform when interest rates fall and bomb when rates rise. (Over the long run, those swings tend to even out and the higher average yields pay off.) Good mortgage-bond funds are available from Vanguard, Fidelity, and Pimco. But if a broker ever tries to sell you an individual mortgage bond or "CMO," tell him you are late for an appointment with your proctologist. ~ Benjamin Graham

The creation of the mortgage bond market, a decade earlier, had extended Wall Street into a place it had never before been: the debts of ordinary Americans. ~ Michael Lewis

The subprime mortgage machine was up and running again, as if it had never broken down in the first place. If the first act of subprime lending had been freaky, this second act was terrifying. Thirty billion dollars was a big year for subprime lending in the mid-1990s. In 2000 there had been $130 billion in subprime mortgage lending, and 55 billion dollars' worth of those loans had been repackaged as mortgage bonds. In 2005 there would be $625 billion in subprime mortgage loans, $507 billion of which found its way into mortgage bonds. ~ Michael Lewis

On the Republican side, the emotional bonds of family launched a major social organization led by nietos, the Association for the Recovery of Historical Memory. Late in 2000 Emilio Silva and Santiago Macías began a personal search for the unmarked graves of their Republican ancestors.

[...] Descendants of executed Republicans told a journalist that "without the body, the pain never ceases." "Never," she reported, "have they spoken of vengeance, of revenge, or of anything that resembles that. In an exhumation, they never raise their eyes from the ground. They are not thinking of reopening wounds, but of closing, for once, their own." This journalist, Natalia Junquera, also quoted a distinguished professor of psychiatry who said, "The hatred dies, it is extinguished, but the necessity of putting a name to the dead, of honoring them, no. There always comes a moment in which one has to put an end to this interminable trauma." [63] ~ Paul D. Escott

Tax laws favor capital over labor, giving capital gains a lower rate than ordinary income. The rich get humongous mortgage interest deductions while renters get no deduction at all. ~ Robert Reich

Any actual relating is impossible during such a state of pitched fever. Real, sane, mature love
the kind that pays the mortgage year after year and picks up the kids after school
is not based on infatuation but on affection and respect. And the word "respect," from Latin respicere ('to gaze at"), suggests that you can actually see the person who is standing next to you, something you absolutely cannot do from within the swirling mists of romantic delusion. Reality exits the state the moment that infatuation enters, and we might soon find ourselves doing all sorts of crazy things that we would never have considered doing in a sane state. ~ Elizabeth Gilbert

See that's where you're wrong baby. When you find your man, it's almost too easy. Gettin' married and havin' a mortgage, kids and a business to run and findin' a way to stay in love day in day out, that's the tougher part. But the beginning' ... that parts easy as pie. That's why they call it fallin' because it happens before you have time to stop yourself. ~ Rachel Hollis

I've been friends with all these people for so many years now ... . I'm so lucky to have Jennifer [Lawrence] and Josh [Hutcherson] and Woody [Harrelson] and all these other great people. We've created really strong bonds. It's like high school because we'll mess around for half the day and then we'll do a little bit of work. Everyone's goofing around and trying to mess each other up. ~ Liam Hemsworth

Journey over, sorrowless, freed in every way, and with all bonds broken - for such a man there is no more distress. ~ Gautama Buddha

If you hate something, it bonds you to the thing you hate. ~ Sandi Bachom

I would have saved them. But the lie tastes rotten on my tongue. Would anything have held William from me? Would anything have held my mother back. Anything? All bonds can be slipped, all thorns torn free. It's simply a matter of pain, and of what you're prepared to lose. ~ Mark Lawrence

The real debate isn't over National League MVP, but over which of Barry Bonds' seasons should be considered his finest. There's 2001, when he hit his record seventy-three home runs. There's 2002, when he hit .370 and won his first batting title. And now there's 2004, when the San Francisco Giants slugger is preparing to shatter his season record for on-base percentage, hitting for nearly as high an average as Ichiro and missing fewer pitches than ever. ~ Ken Rosenthal

That's really nice. I picture my mother and my aunt, a little over four years apart in age, curled up in the same bed, sharing innocent games of Let's Pretend. It makes the present situation seem that much sadder. Should geography and real estate signs outweigh the bonds formed by the shared milestones of childhood? ~ Lisa Wingate

Don't kid yourself. Global warming is no joke. Here's how serious global warming has gotten to be in the United States. In this country global warming is so bad, we are now actually starting to warm up to Barry Bonds. ~ David Letterman

Nothing bonds two solitary individuals like a good shared drunk. This is a scientific fact. It's important, even necessary for the long-term welfare of the planet to get good and shit-faced with your neighbor every now and then. ~ Sol Luckman

Do not hide behind such superficialities as whether you should or should not give a dime to a beggar. That is not the issue. The issue is whether you do or do not have the right to exist without giving him that dime. The issue is whether you must keep buying your life, dime by dime, from any beggar who might choose to approach you. The issue is whether the need of others is the first mortgage on your life and the moral purpose of your existence. The issue is whether man is to be regarded as a sacrificial animal. Any man of self-esteem will answer: "No." Altruism says: "Yes. ~ Ayn Rand

...she speaks words so powerful the wind etches them inside the atmosphere for women to remember through history. 'I exist. Outside of being a mother, a wife, a sister, a daughter, I exist. I exist as a human first, as a being that experiences joy and suffering, beauty and learning, life and tragedy. I exist because the universe chose to put me here for a purpose higher than my relation to men. I exist because a wise old woman gave me a gift and now magic runs through my veins. So the problem is not my existence as half dragon, half girl/ The problem is how you perceive it as so small, you do not believe I can exist at all apart from through my bonds with men. ~ Nikita Gill

Homeowners who refinanced their mortgages took out cash and reduced their monthly payments at the same time. Much of the cash obtained by refinancing was spent on consumer durables, home improvements and the like. ~ Martin Feldstein

If individuality has no play, society does not advance; if individuality breaks out of all bonds, society perishes. ~ Thomas Henry Huxley

The biggest shock when I lost it all was the realization that so much of my life had been out of my control. When I started to make the money back, I vowed that it would never happen again. I bought things only when I could afford them. There was no big mortgage, no cars on hire purchase. I remember buying a TR6 sports car for £6,000, and funnily enough it gave me more pleasure than the Porsche ever had. ~ Simon Cowell

Awards do not pay the mortgage. ~ Kevin Chamberlin

You are a Jew?' the Dalai Lama asked him. When Kevin said yes, His Holiness said, 'Judaism and Buddhism are very much alike. You should learn more about both and become a better Jew.'

I envy that. My tradition has a hard time blessing strong bonds to other traditions, especially those whose truths run counter to our own. We like people to make a conscious choice for Christ and then stay on the road they have chosen, inviting other people to join them as persuasively as they can. It is difficult to imagine a Christian minister talking to a Buddhist who has spent years studying a Christian concept and then telling him to go become a better Buddhist. In some circles, that would constitute a failure on the minister's part, a missed opportunity to save a soul. This is another way in which Buddhism and Christianity differ. Both are evangelistic - what else is a Buddhist mission doing in a suburb of Atlanta? - but the Buddhists seem to understand what Gandhi meant by the 'evangelism of the rose.' Distressed by the missionary tactics of Christians in his country, he reminded them that a rose does not have to preach. It simply spreads its fragrance, allowing people to respond as they will. ~ Barbara Brown Taylor

Canadians know that the promise of a recession didn't happen because of anything we did here. If you look at all the causes of the recession, problems in mortgage markets, the problems in the banking sector, the problems in government finance in countries like Greece, none of those problems were in present Canada. ~ Stephen Harper

According to the media and other stock market "experts," the equities bull is forever hiding just around that next corner on Wall Street. But millions of investors who listened to the experts back in 1998-2001 about "the New Economy" get hammered in the stock market and are still trying to get back to even.
The smart investor looks for opportunities to acquire value on the cheap, with one eye out for a dynamic change in the offing that might make that investment even more valuable. ~ Jim Rogers

The remoter poetry in particular was replete with effects, an effect being something hypnotic we cannot quite understand, whiteness of moon and wave related to the setting of Time in a manner "too subtle for the intellect." And all over Europe, by the late 19th century, poets had decided that effects were intrinsic to poetry, and were aiming at them by deliberate process. By the end of the century, in France, whole poems have been made "too subtle for the intellect," held together, as effects are, by the extra-semantic affinities of their words. Picking up a name that was once thrown around as their authors, we have learned to call them "Symbolist" poems. In the Symbolist poem the Romantic effect has become a structural principle, and we may say that Symbolism is scientific Romanticism, thus an effort to anticipate the work of time by aiming directly at the kind of existence a poem may have when a thousand years have deprived it of its dandelions and its mythologies, an existence purely linguistic, determined by the molecular bonds of half-understood words. ~ Hugh Kenner

Rightly or wrongly, most Americans look at mortgage equity withdrawal as the closest thing to a free lunch. ~ Paul McCulley

We belong to that order of mammals, the primates, distinguished by its propensity for repeated single litters, intense parental care, long life-spans, late sexual maturity, and a complex and extensive social existence ... Our protracted biological and psychological helplessness, which extends well into the third year of life, intensifies the bond between infant and parents, making possible a sense of generational continuity. In contrast to other primates these bonds are not obliterated after sexual maturity. ~ Louise J. Kaplan

If we take the capsulation of minorities within the nation-state as a given condition, the implication of the Holocaust is that the life and liberties of minorities depend primarily upon whether the dominant group includes them within its universe of obligation; these are the bonds that hold or the bonds that break. ~ Helen Fein

Men it is who think they can rule others' lives, but have no bonds to them. Do you think that to bond or not to bond is for you alone to decide? My heart is my own. I give it where I will. I will not give it to one who thrusts me aside. ~ Robin Hobb

And it bred caution in the unveiling of its powers. The Crippled God bred caution but not well enough, for the powers of the earth came to it in the end. Chained was the Crippled God, and so Chained was it destroyed. And upon this barren plain that imprisoned the Crippled God many gathered to the deed. Hood, gray wanderer of Death, was among the gathering, as was Dessembrae, then Hood's Warrior - though it was here and in this time that Dessembrae shattered the bonds Hood held upon him. Also among the gathering were ~ Steven Erikson

Government bonds have basically been sold in the domestic market, so there is some sense of stability, but the amount of public debt is really severe ... Japan must manage its finances with a sense of urgency. ~ Yoshihiko Noda

Among married couples the person who actually makes out the mortgage check is likely to be more cautious about spending money than the person who doesn't. There is something sobering about sending away that much money every month in the knowledge that, rain or shine, you'll have to come up with the same amount of money the next month and the month after that. ~ Calvin Trillin

The main practical difficulty, with some at least of the Peace-makers, is how to carry themselves toward the undoers of peace, the disuniters of souls. Perhaps the most potent of these are not those powers of the church visible who care for canon and dogma more than for truth, and for the church more than for Christ; who take uniformity for unity; who strain at a gnat and swallow a camel, nor knowing what spirit they are of; such men, I say, are perhaps neither the most active nor the most potent force working for the disintegration of the body of Christ.
I imagine also that neither are the party-liars of politics the worst foes to divine unity, ungenerous, and often knowingly falseas they are t their opponents, to whom they seem to have no desire to be honest and fair.
I think rather, they must be the babbling lairs of the social circle, and the faithless brothers and unloving sisters of disunited human families.
But why inquire?
Every self-assertion, every form of self-seeking however small or poor, world-noble or grotesque, is a separating and scattering force. And these forces are multitudinous, these points of radial repulsion are innumerable, because of the prevailing passion of mean souls to seem great, and feel important.
…the partisan of self will sometimes gnaw asunder the most precious of bonds, poisen whole broods of infant loves.
Such real schismatics go about, where not inventing evil, yet rejoicing in iniquity; mishearing; misrepre ~ George MacDonald