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Politics : View from the Center and Left

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To: Dale Baker who wrote (40879)	9/2/2007 10:46:39 AM
From: JohnM	Read Replies (1) of 541955

We're focused on different problems. I agree with your argument so long as it covers the illustration you offer. I'm concerned rather with the widening effect of the mortgage crunch outside your illustration. I understand your point, that the new structure of mortgage finance involves reselling mortgages which eventually become bits and pieces in derivatives. That all needs better regulation. But it also needs a way, given these new mortgage structures, to recreate the ability to find common interest to avoid outcomes on one in the play actually wants. Which is widespread foreclosures.

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