> I still believe that there's nothing inherently wrong with sub-prime mortgages.
> I'll step out on a limb and say: I'm for them. I think the development of that market
> was a net positive for mankind. It has been abused, but I'm okay with that: most
> everything that's good get abused at some point. I believe that the long-term trend
> away from proprietary lending decisions ("Sorry, you're not our kind of people")
> and toward objective criteria-based decisions (FICO, et al) is Good For You. I think
> I would go further than the GSEs presently do and make "sub-prime" mortgages
> *cheaper* than prime ones. Maybe more detail in another post ...
This makes sense to me under reasonable assumptions re. our short-run political future.