> Michael Smith writes:
>
> > this wasn't a case of generally looser
> > credit. This was a case of loose credit narrowly targeted at
> > a specific purpose, namely amateur real-estate speculation.
>
> Feh. All that 'amateur real estate speculation' doesn't add up to the
> shit that we're in; the real evil here is large unregulated markets
Undoubtedly. But that's a different topic. The original (narrower) one here was whether handing out mortgages like Mardi Gras beads was in itself a Good Thing as far as it went -- spreading the wealth etc.
--
Michael Smith mjs at smithbowen.net http://stopmebeforeivoteagain.org