“The financial collapse of 2008 got its start with predatory mortgages, that weren’t sold by community banks and credit unions, they were sold by fly by night mortgage brokers who had almost zero federal oversight and then the big banks looked over, saw the profit potential and they wanted it bad. So they jumped in and sold millions of these terrible mortgages while the bank regulators just looked the other way.”
Quote by Elizabeth Warren
Author
Elizabeth Warren
Elizabeth Warren, born on June 22, 1949, is an American politician and academic. She serves as a United States Senator from Massachusetts, known for her advocacy in consumer protection and financial regulation. A prominent figure in the Democratic Party, Warren has made significant contributions to the field of bankruptcy law and academia. more
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Source: Movin' on Up