Michael Lewis Quotes.

1. "The Mexican harvested strawberries; Wall Street harvested his FICO score."
- Quote by Michael Lewis

2. "These Ginnie Maes suck. They get longer [in maturity] when rates go up, and shorter when rates go down, and nobody wants them"
- Quote by Michael Lewis

3. "... was the influence all this money exerted, not just on the political process but on people's decisions about what to do with their lives. The more money to be made gaming the financial markets, the more people would decide they were put on earth to game the financial markets-- and create romantic narratives to explain to themselves why a life spent gaming the financial markets is a purposeful life. And then there is maybe the greatest cost of all: Once very smart people are paid huge sums of money to exploit the flaws in the financial system, they have the spectacularly destructive incentive to screw the system up further, or to remain silent as they watch it being screwed up by others. p.266"
- Quote by Michael Lewis

4. "It’s Laissez-Faire Until You Get In Deep Shit"
- Quote by Michael Lewis

5. "Where to find the borrowers with high FICO scores? Here the Wall Street bond trading desks exploited another blind spot in the rating agencies’ models. Apparently the agencies didn’t grasp the difference between a thin-file FICO score and a thick-file FICO score. A thin-file FICO score implied, as it sounds, a short credit history. The file was thin because the borrower hadn’t done much borrowing. Immigrants who had never failed to repay a debt, because they had never been given a loan, often had surprisingly high thin-file FICO scores. Thus a Jamaican baby nurse or Mexican strawberry picker with an income of $14,000 looking to borrow three-quarters of a million dollars, when filtered through the models at Moody’s and S&P, became suddenly more useful, from a credit-rigging point of view. They might actually improve the perceived quality of the pool of loans and increase the percentage that could be declared triple-A. The Mexican harvested strawberries; Wall Street harvested his FICO score."
- Quote by Michael Lewis

6. "I hated discussing ideas with investors," he said, "because I then become a Defender of the Idea, and that influences your thought process." Once you became an idea's defender you had a harder time changing your mind about it."
- Quote by Michael Lewis

7. "One absolutely cannot tell, by watching, the difference between a .300 hitter and a .275 hitter. The difference is one hit every two weeks."
- Michael Lewis, Moneyball (Movie Tie-in Edition)

8. "That’s all right, says Billy. We’re blending what we see but we aren’t allowing ourselves to be victimized by what we see."
- Michael Lewis, Moneyball (Movie Tie-in Edition)

9. "Losing shouldn’t be fun. It’s not fun for me. If I’m going to be miserable, you’re going to be miserable."
- Michael Lewis, Moneyball (Movie Tie-in Edition)

10. "The difference in Billy wasn’t what had happened to him, but what hadn’t. He had a life he hadn’t led, and he knew it. He just hoped nobody else noticed."
- Michael Lewis, Moneyball (Movie Tie-in Edition)

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