Dana El-Kurd
👤 SpeakerAppearances Over Time
Podcast Appearances
But it's not the worst of it.
OK, so do you remember that quote from when I was giving the first definition of shadow banking?
Like I gave I gave I gave this quote from the guy who invented the term where he called it, quote, the whole alphabet soup of leveraged up investment conduits, vehicles and structures.
So we've kind of talked about the conduits, vehicles and structures.
Those are all of the shadow banks that like make the things right.
I love the conduits, vehicles and structures.
Yeah, all the acronyms.
But what does leveraged up mean?
Now, OK, in this case, it means that a bunch of these banks have taken out a shit ton of like risky high interest loans in order to buy more of these fucking mortgages because they think they can make more money off of it.
The regular ass banks were doing this.
They went into debt to buy more of these shitty mortgages.