Quotes About The Mortgage Industry
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It is no exaggeration to say that since the 1980s, much of the global financial sector has become criminalised, creating an industry culture that tolerates or even encourages systematic fraud. The behaviour that caused the mortgage bubble and financial crisis of 2008 was a natural outcome and continuation of this pattern, rather than some kind of economic accident. ~ Charles Ferguson
In the subprime mortgage industry, bankers handed out iffy loans like candy at a parade because such loans meant revenue and, hence, bonuses for executives in the here-and-now. ~ Thomas Frank
One lesson I got from Gandhi, 'Be the change you want to see,' haunts me. I just feel like I can't keep stomping around pointing the finger at BP when I am supporting the oil industry with my very own dollars and actions by buying their products, helping to pay their mortgage - plastic is from oil ... polyester, shower curtains. ~ Kristin Bauer Van Straten
Black people were viewed as a contagion. Redlining went beyond FHA-backed loans and spread to the entire mortgage industry, which was already rife with racism, excluding black people from most legitimate means of obtaining a mortgage. ~ Anonymous
The crash of 2008 was driven in no small part by unfair practices in the mortgage industry, which led to many consumers becoming trapped in loans they didn't understand and couldn't afford. ~ Al Franken
Unpleasant odor wafting from the subprime mortgage industry that Eisman had detected. These companies disclosed their ever-growing earnings, but not much else. One of the many items they failed to disclose was the delinquency rate of the home loans they were making. ~ Michael Lewis
What is a permanent loan but a mortgage upon the wealth and industry of the country? It is the only form of indebtedness, as experience has shown, by which heavy and durable encumbrance can be laid upon the community. ~ John C. Calhoun
Let us avoid debt as we would avoid a plague ... Let every head of every household see to it that he has on hand enough food and clothing, and, where possible, fuel also, for at least a year ahead ... Let every head of household aim to own his own home, free from mortgage. Let us again clothe ourselves with these proved and sterling virtues-honesty, truthfulness, chastity, sobriety, temperance, industry, and thrift; let us discard all covetousness and greed. ~ J. Reuben Clark
