“And to whom were these bundles of unrecognizably mashed-up mortgages ultimately sold? Quite often, to you and me. Our pension funds, municipalities, and money-market accounts were made up largely of these “mortgage-backed securities.”

“We were taking out mortgages we couldn’t afford because they were camouflaged to look as if we had a reasonable chance of paying them back. Banks then changed the bankruptcy laws so that we could not get out of our obligations once the rates changed. Lastly, they sold us back our own mortgages, shifting back to us any of the risk through our money-market accounts and pension funds.”

“My parents, both of whom came from impoverished backgrounds and neither of whom had been to college, took the view that my overactive imagination was an amusing personal quirk that would never pay a mortgage, or secure a pension.”

“Goldman Sachs and other investment banks understood the ensuing problem so well that they began betting against the very mortgage-backed securities they were underwriting!”

“Israel had always thought that growing up was simply something that happened to you: you grew taller, more dextrous, you acquired language, learned to feed yourself, developed intellectually, went to school, got a mortgage, had children, got fatter and tired and full of regrets, and that was it, you were grown up, you were an adult. There was more to it than that though, apparently - and it was something that women knew, and men did not.”

“Then came the recession and the end of the Bush boom, and with it came the realization that we were all worker drones paying off our bloated mortgages, bloodsucking corporations and even each other- we are the dead”