BUSINESS

The Big Lie That Haunts The Post-Crash Economy

03/10/2014 11:06 am ET | Updated Mar 10, 2014
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Among my favorite anecdotes of the mortgage-industry decadence that preceded the global financial crisis is the one about Ameriquest’s wind machine. A motivational tool for managers, it made its appearance in the late ’90s at an executive conference at Las Vegas’s MGM Grand Hotel, where the future subprime leader hooked up a powerful fan to a plastic tent.

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