Quotes for the day concerning credit crisis:
“Anyone who lived through the last cycle probably shares our view that the term disciplined lender probably constitutes an oxymoron.”
“Lenders are paid to make loans. And when the loan officers whose bonuses are contingent on originations are given the green light to do business with developers, it is akin to bringing a keg of beer to a fraternity party.”
This is a commentary written in July 1998 by analysts at Green Street Advisors, the independent property share research company in California.
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