[Terrapreta] imagine this

[MMBTUPR at aol.com]

          from          Lewis L Smith

I very much applaud David's comments about the importance to trust, as a 
former [   participant in securities markets, a longtime owner of participation's 
in GNMA [ "Ginnie Mae" } mortgage pools and [ briefly ] a part owner of an 
outfit which originated mortgages and sold them to banks. Also one of my best 
friends is a retired mortgage-company official who managed "work outs" or 
referrals to courts, when people fell behind in their payments.

My general impression is that the mortgage industry's procedures are too 
arcane and complex for the average mortgagee and that it is too easy to get 
unsuspecting clients to sign something which ends up "biting" them farther down the 
road, which is exactly what happened in a substantial number of subprime 
cases.

The people designing a system for carbon credits should look at the 
successful system for sulfur credits, rather than the mortgage industry.

Cordially.   ###








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