As for punishment of those responsible, borrowers were punished for their overindulgences — they lost homes and lives. Let’s not forget that. But the executives at the lenders simply got rich.
The big short - AEI - 0 views
The BIG Short and Recovery! - National Real Estate Post - 0 views
Greg Ip on The Big Short | askblog - 0 views
Big Short Genius Says Another Crisis Is Coming -- NYMag - 1 views
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The little guy will pay for it — the small investor, the borrower.
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Which is why the little guy needs to be warned to be more diligent
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Michael Lewis on The Big Short -- Vulture - 0 views
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they are very short-term oriented, and the firms are short-term oriented
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But it’s a cultural problem has been created over a long period of time, because people are not locked into their individual firms for very a long time
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I think they should have broken up the banks.
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Hey, Economist! What Did You Make of "The Big Short"? Liberty Street Economics - 0 views
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Synthetic CDOs ultimately exacerbated the bust and made it particularly painful—by creating total financial exposures that were a multiple of the amount of the underlying loans that defaulted.
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many people who were pessimistic about the housing market simply stayed on the sidelines—which in turn meant that for a while, valuations in the market primarily reflected the beliefs of optimists.
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“It is difficult to get a man to understand something, when his salary depends on his not understanding it.”
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