The House That Debt Built

Cleveland’s Quicken Loans Arena is a monument to the subprime mortgage crisis and the companies that caused it.

Illustrations by Aart-Jan Venema

In 2005, Dan Gilbert dropped $375 million on a majority stake in the Cleveland Cavaliers basketball team. Just two years earlier, the Cavs had acquired the most promising young athlete in the league by drafting LeBron James, and now Gilbert intended to elevate the whole operation to world-class standing. “Execution will be the name of the […]

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