and back to what bob was saying, let me take on the issue of financial regulation reform. we didn t do anything about the stupidity of continuing to give people access to home mortgages with 3.5% down, which is what the fha is doing now. if we really want to protect the financial system, we should not make it possible for people to get a home mortgage unless they have 20% down payment, and then we won t have another cratered system. you know, so i so the incentives on the mortgage side were at the end of the day the kind of big elephant behind the financial crisis. you know, we compounded problems. we went around and got people to sign if you could breathe, you could get a mortgage. right? you didn t have to have any money down. somebody would fabricate something. you d get a mortgage. is it a surprise that that collapsed and that the collapse got calamitous when we quickly went through the thin equity
talk about, i suppose. i don t think there s much merit to that conversation. and back to what bob was saying, let me take on the issue of financial regulation reform. we didn t do anything about the stupidity of continuing to give people access to home mortgages with 3.5% down, which is what the fha is doing now. if we really want to protect the financial system, we should not make it possible for people to get a home mortgage unless they have 20% down payment, and then we won t have another cratered system. you know, so i so the incentives on the mortgage side were at the end of the day the kind of big elephant behind the financial crisis. you know, we compounded problems. we went around and got people to sign if you could breathe, you could get a mortgage. right? you didn t have to have any money down. somebody would fabricate something. you d get a mortgage. is it a surprise that that collapsed and that the collapse