If the economy grows, housing gets better, quicker.

Finance went from being a small business, effectively, to being a big business. In part, that's the growth of the world's wealth. That's called savings.

If you're making all your money simply betting on interest rates, that's not a business. Flow is a business. On the outside, they look the same for a while. But when you dig into them, no, they weren't exactly the same.

We represent companies from around the world who say, "I want to look at Japanese companies. I want to invest in Japan."

Remember that banks aren't markets. The market is amoral. The market doesn't care who you are. You're a trade to the market. The market will sell you if they think you're riskier. Banks didn't do that

Just because we're stupid doesn't mean everybody else was.

We don't think there are cases where people were evicted out of homes when they shouldn't have been.