A Quote by Lisa Madigan

My investigation found Sallie Mae put student borrowers into expensive subprime loans that it knew were going to fail.

Lisa Madigan

Quote Topics

Borrowers Expensive Fail Found Going Investigation Knew Loans Mae Put Student Were

Quote Author

Lisa Madigan
American - Public Servant
Born: July 30, 1966

There were absolutely circumstances where Sallie Mae was working hand-in-hand with for-profit schools and other schools in offering and putting students into risky expensive subprime loans.

Lisa Madigan

Navient/Sallie Mae treated student loan borrowers unfairly from start to finish.

Lisa Madigan

I had begun to worry about the housing market back in 2003, when lenders first resurrected interest-only mortgages, loosening their credit standards to generate a greater volume of loans. Throughout 2004, I had watched as these mortgages were offered to more and more subprime borrowers - those with the weakest credit.

Michael Burry

Between the Community Redevelopment Act, requiring banks to make what I would call very weak loans, and specific quotas that the Congress imposed on Fannie Mae and Freddie Mac, that created the market demand that really led to the subprime phenomenon.

Wilbur Ross

When you start to confuse Freddie Mac, Sallie Mae and Fannie Mae with members of your family, and you remember 2,000 stock symbols but forget the children's birthdays, there's a good chance you've become too wrapped up in your work.

Peter Lynch

We never did these kinds of loans that really started this mess, the subprime loans. We just never got into that business. We were enticed a lot of times to do so by a lot of Wall Street-type players, but I, frankly, never understood some of this stuff.

Dan Gilbert

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

The loans I took out for my undergraduate degree were manageable. But my legal education was more expensive, and I paid for it almost entirely through public and private loans.

Marco Rubio

If banks anticipate government will come to the rescue should the credit market go badly awry, they may make loans that would otherwise be imprudent, e.g. subprime loans with little prospect of repayment.

Eric Maskin

American universities are so expensive. My family couldn't afford to send me, so I took out student loans and had to pay my own way.

Pauline Chalamet

Noises and smells, those can bring back powerful memories. I remember when I was going to school one Fourth of July, and there were a lot of fireworks going off. I knew that I was in Richmond. I knew that I was a college student. But I thought people were shooting at me.

Kevin Powers

Student debt is crushing the lives of millions of Americans. How does it happen that we can get a home mortgage or purchase a car with interest rates half of that being paid for student loans? We must make higher education affordable for all. We must substantially lower interest rates on student loans. This must be a national priority.

Bernie Sanders

A consolidation makes sense only if you can lower your overall interest rate. Many people consolidate by taking out a home equity line loan or home equity line of credit (HELOC), refinancing a mortgage, or taking out a personal loan. They then use this cheaper debt to pay off more expensive debt, most frequently credit card loans, but also auto loans, private student loans, or other debt.

Jean Chatzky

Part of Obamacare eliminated the private sector financial market that engages in giving college student loans. I mean, now the federal government has taken over college student loans, so I sit back and strategically look at this and say this just cannot be happening.