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.
“A lot of people want to make films and do photography and things, but I'm quite happy doing what I'm doing.”
“I'm a Republican and I'm gonna stay a Republican because they need somebody like me to stay in the Party and keep hammering away.”