> And in general looser credit is better than
> tighter credit, within limits that were
> obviously breached, but looser is the more
> liberal impulse.
But it's the breached limits he was defending. My takeaway from the piece was the credit evaluation in subprime lending is working and the fears are antiquated. It read like a stock piece of tut-tutting about old conceits blinding some to the virtues of bold, new innovations. Of course, he wasn't in a professional minority to say so.
Shane