I was half listening and half working when I heard this on NPR's "Fresh Air" podcast from 9/23/2008:
"These are some of the loans that were made at the tail end of the housing boom, 2005, 2006, 2007. When really, you didn't even have to be ambuiltory or have a pulse to get a mortgage. It was just so much free money floating around that even my cat could have gotten a mortgage on a house." - Gretchen Morgansen
Hysterical! And scary.
If you're not up on what's going on listen to these:
- This American Life: The Giant Pool of Money
- This American Life: Another Frightening Show about the Economy
- Planet Money Podcast
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