“Reckless people have deluded themselves that this was a subprime crisis. But we have problems with credit-card debt, student-loan debt, auto loans, commercial real estate loans, home-equity loans, corporate debt and loans that financed leveraged buyouts… We have a subprime financial system, not a subprime mortgage market.”

— Nouriel Roubini

Quoted in Stephen Mihm, "Dr. Doom," http://www.nytimes.com/2008/08/17/magazine/17pessimist-t.html?_r=1&oref=slogin The New York Times (2008-08-15).

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Nouriel Roubini9

American economist 1958

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“The American people deserve a Congress that worries less about helping big banks, and more about helping regular people who have been cheated on mortgages, on credit cards, on student loans and on credit reports.”

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“Protocols: What also indeed is, in substance, a loan, especially a foreign loan? A loan is an issue of government bills of exchange containing a percentage obligation commensurate to the sum of the loan capital. If the loan bears a charge of 5 percent, then in twenty years the State vainly pays away in interest a sum equal to the loan borrowed, in forty years it is paying a double sum, in sixty treble and all the while the debt remains an unpaid debt.
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Surely they must have changed during all that time.
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“But inasmuch as that light is loaned,
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“A few more ways to gain traction: - Support a Federal Jobs Guarantee, - Bailout Student Debt, - Legalize Marijuana & Explore Reparations, Baby Bonds. Here’s our Student Loan Cancellation Digital Town Hall…”

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Nouriel Roubini9

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