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To: ild who wrote (214953)	1/16/2003 3:26:46 PM
From: Freedom Fighter	Respond to of 436258

ild, I don't anything about COF, but I don't think all subprime lenders are ponzi schemes. I think a real lot of them did not price properly for a full business cycle because prior to the bust, we had a very extended up cycle. That mis-pricing was exposed at some companies (they went under) and others may follow. However, I think that those that have priced properly will simply see higher losses during the downturn and then above average profits again during the height of the boom for a net of decent profits.