by Calculated Risk on 8/18/2007 06:38:00 PM

From the NYTimes: How Missed Signs Contributed to a Mortgage Meltdown. Here is the quote of the day:

“All of the old-timers knew that subprime mortgages were what we called neutron loans — they killed the people and left the houses,” said Louis S. Barnes, 58, a partner at Boulder West, a mortgage banking firm in Lafayette, Colo.