A Quote by Al Franken

The crash of 2008 was driven in no small part by unfair practices in the mortgage industry which led to many consumers being trapped in loans they didn't understand and couldn't afford.

Al Franken

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Afford Being Consumers Crash Driven Industry Led Loans Many Mortgage Part Practices Small Small Part Trapped Understand Unfair Which

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Al Franken
American - Politician
Born: May 21, 1951

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.

Ta-Nehisi Coates

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

Both HUD and the Department of Justice began bringing lawsuits against mortgage bankers when a higher percentage of minority applicants than white applicants were turned down for mortgage loans. A substantial majority of both black and white mortgage loan applicants had their loans approved but a statistical difference was enough to get a bank sued.

Thomas Sowell

Not being able to afford many of the basic necessities to survive, I placed all my loans in forbearance, enrolled in food stamps and Medicaid, and took on part-time jobs anywhere I could find them.

Adrienne C. Moore

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

Richard Cordray

Nine of 10 whites in Chicago borrow from top-drawer banks and mortgage companies, which the industry calls prime lenders. They lend to people with A credit ratings, making loans at competitive rates.

Bill Dedman

Riskier mortgage lending practices, imposed by government, were what set the stage for many mortgage payments to stop and thus for the financial disasters that followed. Political rhetoric, echoed in the media, seeks to obscure that painfully plain fact.

Thomas Sowell

A world where wages no longer rise still needs consumers. Middle-class purchasing power has been maintained through loans, loans and more loans. The Calvinistic reflex that you have to work for your money has turned into a license for inequality.

Rutger Bregman

The same with the mortgage brokers that were selling people mortgages they couldn't afford. We shouldn't pay them on each mortgage they write. They should have what they call "skin in the game," where they've got to reimburse us if the guy who sold the mortgage defaults.

Richard Thaler

American consumers might benefit if lenders provided greater mortgage product alternatives to the traditional fixed-rate mortgage.

Alan Greenspan

Debt certainly isn't always a bad thing. A mortgage can help you afford a home. Student loans can be a necessity in getting a good job. Both are investments worth making, and both come with fairly low interest rates.

Jean Chatzky

People do care where their food, or other goods, comes from, not merely if the price is right. And that means no business can afford to ignore the impacts their buying practices have on producers and on the perceptions and choices of consumers.

Julian Baggini

Maintaining longevity is a major part of success to me. So many people come into an industry quick, shoot to the top, then crash and burn.

Kandi Burruss

Many women feel they can't afford their lives; their husbands can't afford to be paying for the family bills. Hillary Clinton is guilty of being part of the establishment that created that problem.

Paul Manafort

After the risky mortgage-lending practices fostered by government intervention led to massive defaults and foreclosures that caused financial institutions to collapse or be bailed out, Congressman Frank changed his tune completely.

Thomas Sowell

In early 2008, before the criminal greed of America's mortgage and investment bank industry nearly destroyed the world's economy, the balance sheet of the U.S. Federal Reserve stood at about $870 billion.

Neil Macdonald

A Quote by Al Franken

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