Sunday, September 17, 2006

Wonder how much they could get for

"The housing boom would never have lasted as long as it did if mortgage lenders had to worry about being paid back in full. But instead of relying on borrowers to repay, most lenders quickly sell the loans, generating cash to make more mortgages." - New York Times editorial
Not to point out the obvious, but don't you think that the people buying the loans, are, well, you know, interested in being paid back? And therefore would be unwilling to buy pools of mortgages that they thought would have higher than acceptable default rates. I'm just saying . . .

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