Subprime mortgage lending was still a trivial fraction of the U.S. credit markets-a few tens of billions in loans each year-but its existence made sense, even to Steve Eisman. "I thought it was partly a response to growing income inequality," he said. "The distribution of income in this country was skewed and becoming more skewed, and the result was that you have more subprime customers.
( Michael Lewis )
[ The Big Short ]
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