Subprime Shenanigans

Here’s Ron Utt’s newest report on the state of the subprime slowdown:

Many of these proposals would impose substantial regulations on mortgage market particiĀ­pants to deter future problems. While many of these regulatory efforts are well meant, implementing them would likely limit access to mortgages to only those with high incomes and existing financial assets. In the end, such regulations are unlikely to make the mortgage market any safer and could make it more vulnerable, as the painful experiences of the 1970s and 1980s demonstrate.

We said it beforeā€¦