次级抵押机器又启动并再次运行，就好像它从来没有崩溃过。如果次级贷款的第一幕是怪异的，那么第二幕将令人恐惧。在1990年代中期，三十亿美元对于次级贷款来说是重要的一年。 2000年，次级抵押贷款的1300亿美元，其中550亿美元的这些贷款被重新包装为抵押债券。 2005年，次级抵押贷款将有6250亿美元，其中50070亿美元找到了抵押债券。
(The subprime mortgage machine was up and running again, as if it had never broken down in the first place. If the first act of subprime lending had been freaky, this second act was terrifying. Thirty billion dollars was a big year for subprime lending in the mid-1990s. In 2000 there had been $130 billion in subprime mortgage lending, and 55 billion dollars' worth of those loans had been repackaged as mortgage bonds. In 2005 there would be $625 billion in subprime mortgage loans, $507 billion of which found its way into mortgage bonds.)