Lori Siegel
👤 SpeakerAppearances Over Time
Podcast Appearances
Oh, because Wells Fargo did this with everybody's mortgage.
Right, it's like a promise for later.
But like the mortgage, the person who has the mortgage, that's not, that's not real.
That's like, that's a, that's a promise.
I'm going to put this mortgage on a roller coaster.
I thought that the banking and the shadow banking were like separate things, right?
It's like, oh, they're doing non-bank stuff.
They're all in on it.
If the bank is doing shadow banking, I'm stupid, but I would call that a crime.
But they're hiding stuff off the books.
What's the point of the balance sheet if you don't put the whole balance on it?
Exploded, like, in popularity or, like, exploded as in, like, destroyed?
Oh, because it went so well.
It went so well in 2008 that now everyone's doing it.
Yeah, they didn't have to do that.
So they really they learned their lesson.
They really learned their lesson this time.