Re: Debt (Was: How much is a FICO score worth?)

"joetaxpayer" <joetaxpayer@[EMAIL PROTECTED]
> wrote
> In the 'old days' mortgages were kept at the bank writing 
> them and provided income to the bank and the source of 
> funds to pay interest on deposits. I don't see that going 
> away anytime soon.

Post-o, or maybe I am misunderstanding your words? I thought 
the credit crisis's origin was based in part in banks 
selling their mortgages (or repackaging them), and then 
their being sold again, until multiple layers existed, 
ostensibly to cover the risk of owning mortgages.

Coffee's-for-closers: There is an argument that strong 
economies need (1) a certain fraction of working class 
folks; (2) a certain amount of debt; and so on. But I hope 
you are not saying that where we are now is a good thing. 
Banks can pay you interest without others going bankrupt 
(devaluing neighborhoods where maybe you own homes). 

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