Mortgages, Traders and Fiduciaries


Also Gary Cohn, IEX, volatility and Uber.

Mortgage brokers.

Here’s a quiz: In what year did a 25-year-old Calvin Klein salesman turned mortgage broker say this about how he got into the subprime mortgage business?

“I knew a mortgage was a loan for a house,” said Mr. Boyd, who was recruited by his boss, Jon Maddux, after selling him a Calvin Klein suit at a local outdoor mall. “I came in just a blank slate.”

If your guess was “2006, that is the most 2006 thing that anyone could ever say,” I see your point, but nope, it was now, it’s happening now:

Mortgages, Traders and Fiduciaries

Categories : Finance

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