>> there's decent aspects. it's an effort to reach people whose credit isn't as good. an effort to give them the ability to move up and reach the home ownership dream. but like so much else, it starts as a good idea that eventually gets perverted. the history of the modern age of finance is that. >> washington has failed miserably for the last 10, 20 years, as the mortgage market has changed, but washington has been concerned about, is for lenders to makediligence. >> it became possible to buy a house with no provable income, no assets and maybe not even using your real tiname. >> people are saying, you're going to give me a mortgage when i don't have a job, i can lie on my form and sign it and you give me the money anyway, give me the free option to buy a home, i'll do that all day long. people love free options. >> one company considered an