“How do you make poor people feel wealthy when wages are stagnant? You give them cheap loans”.
Michael Lewis, “The Big Short”
QUOTE OF THE DAY
“How do you make poor people feel wealthy when wages are stagnant? You give them cheap loans”.
Michael Lewis, “The Big Short”
Cheap loans AND offer to loan people 125% of the value of their home. My neighbor took the money, spent it, divorced his wife, then blew out of town.
I never could comprehend what the banks were thinking.
’tis no favor to lend money to an honest man ,that has no means of paying it back.
I can’t remember where I read this but I think it was Martin Mayer’s book “The Banker’s”(mid 70’s) might have been Lewis’s “Liar’s Poker”.