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At least you can watch the asset, you can take care of it,
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you can improve it, granted you have to pay takes on it
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and you have to fix it up, and it's not very liquid.
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But you balance these things off, it might be--
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it was the new asset class of the era.
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It was an idea--it was not a speculative asset,
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it was a savings related asset.
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Okay, how about this other axis?
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Subprime approvals in 2006;
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the log of the dollar amount in thousands.
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We looked at all of these--
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we looked at the rates city by city of subprime approvals.