AtomicQuote

Michael Lewis Quote

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

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.

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