When the going gets weird, the weird turn pro. - Hunter S. Thompson

18 August 2007

Neutron loans

“All of the old-timers knew that subprime mortgages were what we called neutron loans — they killed the people and left the houses,” said Louis S. Barnes, 58, a partner at Boulder West, a mortgage banking firm in Lafayette, Colo. “The deals made in 2005 and 2006 were going to run into trouble because the credit pendulum at the time was stuck at easy.”
Few Heard Ticking Credit Time Bomb - New York Times

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