I'm not saying that at all. What I'm say is that left to themselves, markets tend to be efficient in their operation. The issue here is that Congress essentially told the mortgage industry to lend to less than desirable credit risk individuals. In response to the Congressional meddling, the Mortgage bubbas came up with these questionable mortgage products.
QED, Congress needs to quit meddling in the economy. BAD things happen when they meddle.
Schumer and Dodd plan to do more meddling....they will welcome this opportunity....