How we cite our quotes: (Chapter.Paragraph)
Quote #1
The small world of investors who made big bets against subprime mortgage bonds itself contained an even smaller world: people for whom the trade became an obsession. (5.3)
There were literally fewer than twenty people in the entire world who bet against the subprime market. That's nuts. However, as this passage notes, and as we'll see over the course of the section, this isn't just some run-of-the-mill trade for these folks—it's a personal mission, even a crusade. That comes with its own set of benefits and drawbacks.
Quote #2
"Sometimes his ideas cannot be manifested in a trade," said Vinny. "This time they could." (7.14)
Vinny is talking about Steve Eisman here. For Eisman, betting against the subprime market is a way of expressing his disdain for Wall Street. That disdain is what explains his determination.
Quote #3
This was Moody's. The aristocrats of the rating business [...] And its CEO was being told he was either a fool or a crook, by Vincent Daniel, from Queens. (7.21)
Like their boss, the bros at FrontPoint Partners refuse to defer to the authority of so-called "experienced" men. After all, those "experienced" men have really screwed the pooch with the subprime market, causing untold damage to their own companies (and to the economy as a whole) while being none the wiser.