Innovation or Exploitation?

HOLDING JUDGMENT UNTIL THE DATA COME IN

I wonder if this article by Austan Goolsbee was written before or after we found out that maybe 50% of all sub-prime loans went to people who could have qualified for prime?

What more have we found out about those lenders who 'targeted' the elderly, sucking the equity out of their home, with loans that "required" refi's every x years (and subjected people to pre-payment penalties)?

There is more ...

I'm trying, as best as possible, to withhold judgment until the data is in.

Sadly, I doubt it is coming.

Innovation is grand. "Suckering people" is never laudatory, even in the name of innovation.

Any brokered, relatively illiquid market is a prime candidate for abuse, true or false?

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