Because the lenders sold many-though not all-of the loans they made to other investors, in the form of mortgage bonds, the industry was also fraught with moral hazard. "It was a fast-buck business," says Jacobs. "Any business where you can sell a product and make money without having to worry how the product performs is going to attract sleazy people.
( Michael Lewis )
[ The Big Short: Inside the ]
www.QuoteSweet.com