[quote=sdduuuude][quote=davelj]But it’s pretty clear to me that moral standards have changed too.[/quote]
Did they ? Or did the situation change? i.e. are borrowers more up-side-down than ever before and the “morality” of paying off the loan in underwater conditions has not been tested to this extent before.
Or, perhaps the availability of ez credit drew in more people of a lower moral standard than ever before.[/quote]
I think it’s a combination of all of these things and, to make it more complicated, they are inter-related.
