A Quote by Henry Paulson

What began as a subprime lending problem has spread to other, less risky mortgages and contributed to excess home inventories that have pushed down home prices for responsible homeowners.

Henry Paulson

Quote Topics

Began Down Excess Home Homeowners Lending Less Other Prices Problem Pushed Responsible Risky Spread

Quote Author

Henry Paulson
American - Public Servant
Born: March 28, 1946

No one pushed harder than Congressman Barney Frank to force banks and other financial institutions to reduce their mortgage lending standards, in order to meet government-set goals for more home ownership. Those lower mortgage lending standards are at the heart of the increased riskiness of the mortgage market and of the collapse of Wall Street securities based on those risky mortgages.

Thomas Sowell

Securities based on risky mortgages are what toppled financial institutions but it was the government that made the mortgages risky in the first place, by making home-ownership statistics the holy grail, for which everything else was to be sacrificed, including commonsense standards for making home loans.

Thomas Sowell

A home is a home, and excess supply leads to prices falling.

Nouriel Roubini

Home ownership was the fig leaf for the rise in subprime lending. But that was really about cash-out refinancings, not buying homes.

Bethany McLean

I am asking my Attorney General to create a special unit of federal prosecutors and leading state attorneys general to expand our investigations into the abusive lending and packaging of risky mortgages that led to the housing crisis. This new unit will hold accountable those who broke the law, speed assistance to homeowners, and help turn the page on an era of recklessness that hurt so many Americans.

Barack Obama

One more time? We've done this. We've done this at least four times where there's a new government program to help homeowners who have trouble with their mortgages. None of these programs have worked. I don't know why anyone would think that this next idea is going to work. All it does is delay the clearing of the market. As soon as the market clears and we understand where the prices really are - that will be the most important thing we can do in order to improve home values around the country.

John Boehner

But 300 million Americans, their lending institutions, their government, their media, all believed that house prices were going to go up consistently. And that got billed into a $20 trillion residential home market. Lending was done based on it, and everybody did a lot of foolish things.

Warren Buffett

Homeowners who refinanced their mortgages took out cash and reduced their monthly payments at the same time. Much of the cash obtained by refinancing was spent on consumer durables, home improvements and the like.

Martin Feldstein

Subprime mortgages, typically defined as those issued to borrowers with low credit scores, make up roughly the riskiest one-third of all mortgages.

Michael Burry

Groups that work in black neighborhoods around the country have contended that much of subprime lending is 'predatory lending.'

Bill Dedman

What the mortgage bubble was all about was big banks like Goldman Sachs taking big bundles of subprime mortgages that were lent out largely to low-income, highly risky borrowers, and applying this kind of magic-pixie-dust math to these bundles of securities and slapping AAA ratings on them.

Matt Taibbi

Based on the overwhelming array of luxury products manufacturers have recently introduced, homeowners want anything that makes their lives more comfortable at home. Whether it involves heating/warming accessories or spa-like home environments, it's part of the 'cocooning' phenomena that has resurfaced. People are spending more time at home and they want to be comfortable. They want to use their home to its full potential, not just as a place to eat and sleep between workdays.

Stephanie Miller

Home sweet home. No place like home. Take me home, country roads. Home is where the heart is. But my heart is here. So I must be home. Clare sighs, turns her head, and is quiet. Hi, honey. I'm home. I'm home.

Audrey Niffenegger

Every day there are homeowners in California who will either receive relief so they can stay in their home, or will be in the foreclosure process and potentially lose their home. And that always weighed heavily on my mind.

Kamala Harris

Even though some down payments are borrowed, it would take a large, and historically most unusual, fall in home prices to wipe out a significant part of home equity. Many of those who purchased their residence more than a year ago have equity buffers in their homes adequate to withstand any price decline other than a very deep one.