Mortgage Backed Securities Quotes & Sayings

It was his own soul he was exploring, the one territory from which there was no escape, the one enemy which must always be faced, sooner or later, more certain than anything else in life or death. — Anne Perry

Just as the financial crisis was incubated when unaccountable bank executives created a culture of rewarding short-term profits without wanting to know the ugly details about their mortgage-backed securities, so too does medicine's lack of accountability create an institutional culture that fosters overtreating and runaway costs. — Martin Makary

Sometimes markets err big time. Markets erred when they gave America Online the currency to buy Time Warner. They erred when they bet against George Soros and for the British pound. And they are erring right now by continuing to float along as if the most significant credit bubble history has ever seen does not exist. Opportunities are rare, and large opportunities on which one can put nearly unlimited capital to work at tremendous potential returns are even more rare. Selectively shorting the most problematic mortgage-backed securities in history today amounts to just such an opportunity. — Michael Burry

Goldman Sachs and other investment banks understood the ensuing problem so well that they began betting against the very mortgage-backed securities they were underwriting! — Douglas Rushkoff

If nobody can sell mortgage-backed securities based on trillions of dollars of unpayable instruments, there's a lot less risk in the overall system. — Elizabeth Warren

And to whom were these bundles of unrecognizably mashed-up mortgages ultimately sold? Quite often, to you and me. Our pension funds, municipalities, and money-market accounts were made up largely of these mortgage-backed securities. — Douglas Rushkoff

The major driver of economics is the equilibrium approach, which has taken various forms over the years. General equilibrium is the statement that all the different parts of the economy influence each other, even if it's remote, like mortgage-backed securities and their demands on automobiles. — Kenneth Arrow

My looks arent going to help me explain mortgage-backed securities. — Jenna Lee

Mortgage securities. Pooled together from thousands of mortgages around the United States, these bonds are issued by agencies like the Federal National Mortgage Association ("Fannie Mae") or the Government National Mortgage Association ("Ginnie Mae"). However, they are not backed by the U.S. Treasury, so they sell at higher yields to reflect their greater risk. Mortgage bonds generally underperform when interest rates fall and bomb when rates rise. (Over the long run, those swings tend to even out and the higher average yields pay off.) Good mortgage-bond funds are available from Vanguard, Fidelity, and Pimco. But if a broker ever tries to sell you an individual mortgage bond or "CMO," tell him you are late for an appointment with your proctologist. — Benjamin Graham

In my first meeting with Vladimir Putin in the spring of 2001, he complained that Russia was burdened by Soviet-era debt. At that point, oil ws selling for $26 per barrel. By the time I saw Putin at the APEC summit in Sydney in September 2007 oil had reached $71
on its way to $137 in the summer of 2008. He leaned back in his chair and asked how were Russia's mortgage-backed securities doing. — George W. Bush

Then resold their loans in bulk to Wall Street banks. The banks, in turn, bundled the loans into high-yielding residential mortgage-backed securities (RMBS) and sold them on to investors around the world, all eager for a few hundredths of a percentage point more return on their capital. Repackaged as collateralized debt obligations (CDOs), these subprime securities could be transformed from risky loans to flaky borrowers into triple-A rated investment-grade securities. — Niall Ferguson

Religion, as distinguished from modern paganism, implies a life in conformity with nature. It may be observed that the natural life and the supernatural life have a conformity to each other which neither has with the mechanistic life ... A wrong attitude towards nature implies, somewhere, a wrong attitude towards God ... [We should] struggle to recover the sense of relation to nature and to God. — T. S. Eliot

What was the point of hide-and-seek if you weren't allowed to dig pit traps or attack your opponents from behind? That — Seanan McGuire

I've got a huge, huge position in mortgage-backed securities. I started accumulating them in 2009, when the market was really down and things were really scary. — Jeff Greene

Anything less than the best is a felony. — Vanilla Ice

Is numerical equality (forced by the use of specific physical units) the same as conceptual equality? Of course NOT! — Felix Alba-Juez

Some friendships got longer without getting deeper. — Mhairi McFarlane

I live here in Vermont, in a village of barely a thousand people halfway up the state's third highest mountain. — Chris Bohjalian