Lending money to people, especially poor homebuyers, who are unlikely to be able to repay.
Topic brief
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subprime
A transcript-matched topic anchored by excerpts such as "...what allowed the Great Financial Crisis to happen is something called subprime. Okay? Subprime just means that you're lending money to people who can't..."
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Topic Scope And Freshness
A transcript-matched topic anchored by excerpts such as "...what allowed the Great Financial Crisis to happen is something called subprime. Okay? Subprime just means that you're lending money to people who can't..."
Key Notes
Subprime lending became possible through Clinton-era minority homeownership policy and the 1999 repeal of Glass-Steagall, which combined retail and investment banking and encouraged riskier financial vehicles.
Timestamped Evidence
"...what allowed the Great Financial Crisis to happen is something called subprime. Okay? Subprime just means that you're lending money to people who can't..."
"Okay? But there are certain things that happen to make subprime happen. Okay? So, the first thing is that Bill Clinton, he really wanted..."
"And so, that's what the act said. Versible. Okay? It's trying to mitigate risk in the system. But by repealing the Glass -Steagall Act,..."
"...these predatory financial practices, um, and basically cause like a 2008 subprime crisis, um, in China, right?"
"...same disaster in 2008 from happening? So you give all these subprime mortgages to people that can't pay them off. How does the bubble..."
"...which means Collateral Debt Obligations. Okay? But basically, it just means subprime. Right? The idea is that mortgages are a good investment because people..."
"Okay? The problem, of course, is subprime could lead to default. Okay? But at this time in history, no one was concerned about default..."
"...collateral debt obligations. And this, of course, led to the 2008 subprime crisis. And at this point in history, essentially the entire global economy..."
"...to gamble with, derivatives, right? And that ultimately led to the subprime crisis. Yeah. And the collapse of the global economy, and if it..."
"...the domain they're interesting people they're the followers of someone called subprime zevi oh yeah yeah yes yes yes yes yes yes"
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