"There’s a whole lot of people who would’ve been stuck as renters without these exotic loan products. Now it’s like they can do their renting from the bank, and if house values go up, they become the owner. If they go down, you have the choice to give the house back to the bank. You aren’t any worse off than renting, and you got a chance to do extremely well.
If it’s heads I win, tails the bank loses, it’s worth the gamble.”
Professor Sinai
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