Quotes About Loans

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.

When Steve Eisman stumbled into this new, rapidly growing industry of specialty finance, the mortgage bond was about to be put to a new use: making loans that did not qualify for government guarantees. The purpose was to extend credit to less and less creditworthy homeowners, not so that they might buy a house but so that they could cash out whatever equity they had in the house they already owned.

Long Beach Savings was the first existing bank to adopt what was called the "originate and sell" model. This proved such a hit—Wall Street would buy your loans, even if you would not!—that a new company, called B&C mortgage, was founded to do nothing but originate and sell.

This wasn't just another company—this was the biggest company by far making subprime loans. And it was engaged in just blatant fraud. They should have taken the CEO out and hung him up by his fucking testicles.

The market might have learned a simple lesson: Don't make loans to people who can't repay them. Instead it learned a complicated one: You can keep on making these loans, just don't keep them on your books. Make the loans, then sell them off to the fixed income departments of big Wall Street investment banks

How do you make poor people feel wealthy when wages are stagnant? You give them cheap loans.

The accounting rules allowed them to assume the loans would be repaid, and not prematurely. This assumption became the engine of their doom.

The interest rate on the loans wasn't high enough to justify the risk of lending to this particular slice of the American population. It was as if the ordinary rules of finance had been suspended in response to a social problem. A thought crossed his mind: How do you make poor people feel wealthy when wages are stagnant? You give them cheap loans.

Sometimes there are customers who get in difficulty because of situations that are out of their control. These are customers with genuine needs, and the role of the bank is to accommodate these customers, and there is a real need to reschedule the loans of these customers.

After the 1980s, most banks refused to do business with him because he had defaulted on hundreds of millions of dollars in loans; only Deutsche Bank was willing to lend him funds. During the 1990s and early 2000s, his organization filed for bankruptcy six times. He used the bankruptcies and other techniques to avoid paying income taxes for almost eighteen years.

Commercial banks are very good for certain businesses, like loans and guarding other people's money. They're not great investors or entrepreneurs.

The problem in a lot of low-income countries is that people take out loans to go and get degrees, which are then irrelevant in the job market.

there is a decisive difference between the loans supplied by private lenders and the loans supplied by a government agency. Each private lender risks his own funds.

The proposal for government loans to private individuals or projects, in brief, sees B and forgets A. It sees the people into whose hands the capital is put; it forgets those who would otherwise have had it. It sees the project to which capital is granted; it forgets the projects from which capital is thereby withheld. It sees the immediate benefit to one group; it overlooks the losses to other groups, and the net loss to the community as a whole.

This is the standard line of the Trump side of the party, that us who oppose him are just a bunch of elites who live in the Acela corridor in this bubble of unimaginable wealth. I wish I had been born into an extremely wealthy New York real estate family and been given multimillion dollar loans to get my start in life.

Too often, borrowers who need quick cash end up trapped in loans they can't afford.

It is hard to be enthusiastic about the economy's prospects when house prices are falling: Households spend less, small business owners can't use homes as collateral for loans and local governments are forced to cut jobs and programs as property-tax revenue disappears.

I have heard firsthand from several small business owners about their struggle to borrow and their fear of taking on additional debt.

In one month, the Small Business Administration does $1 billion of loans and guarantees for businesses; many of those are women-owned businesses.

The Obama administration made it illegal for me to loan any money to anyone in the military. I have one compliance guy just for a pawn shop. It's everything from Homeland Security, FBI, the local police department, IRS - all these regulations I have to keep an eye on constantly, and it's just overwhelming for a small business.

The S.B.A. does not lend directly to businesses, but instead backs loans to encourage banks to invest in small businesses as part of a nearly $90 billion portfolio.

A big farming operation like his was a challenging enterprise, relying as it did on rampant pollution and the systematic mistreatment of immigrant labor. For Red it was no small feat to keep the feds off his back while at the same time soaking taxpayers for lucrative crop subsidies and dirt-cheap loans that might or might not be repaid this century.

Harvard was need-blind (that was significantly why he had chosen it), but even his generous financial aid package didn't cover everything. He didn't owe much, but he couldn't conceive of asking Dong Hyun and Bong Cha to help with his loans, and he had not gone to Harvard to be a poor person.

There's more student debt than credit card debt! Everywhere I go, I run into young people trying to build careers while they keep shelling out money on their education loans. If the economy is looking for a new generation of home-buyers, I can't imagine they'll get it from these folks.