Homeowners who refinanced their mortgages took out cash and reduced their monthly payments at the same time. Much of the cash obtained by refinancing was spent on consumer durables, home improvements and the like.
“Nor do I think that any other nation than this of Wales, nor any other language, whatever may hereafter come to pass, shall on the day of severe examination before the Supreme Judge, answer for this corner of the earth.”
“Yes, I suffer terribly from depression. I have to work at being happy, it's not my natural instinct. My natural instinct is, if something wonderful happens, to throw water in my own face.”