JAY BOSLIN

From Subprime to Meltdown: Is Peak Oil Responsible?

It was hardly Peak Oil. It was relationship or the nexus between the party putting together subprime securitizations and the buyer of those packages who was either unsophisticated or sophisiticated but knew the paper could be sold at healthy markup to someone who was just shopping for yield.

Without that there would not have been the money available to the investors and unqualified people buying real estate only because it could only go up. When property quit going up it was all over.