The NY Times describes a new breed of bad creditors, "Ruthless Defaulters". Ruthless or just fed up and angry? What is the 'tipping point' where default crosses over to repudiation?
Ginnie Mae is growing fast. Are they going to assume the roll of the bankrupt Fannie Mae and Freddie Mac? Is the 'Shadow System' taking a bank holiday? Are the commercial banks really making new loans?