Curt Culver, MGIC

The conversation moves to the sub-prime mess and housing. McCain asks how to guarantee we won’t get here again. Culver responds that more regulation may not be the answer. He adds that Sarbanes-Oxley has been hard on companies. Culver does concede there are some good points to the bill, but it did more than intended.

Culver agrees that home ownership is an important component of the American dream. He also reminds us that nothing disrupts a family like losing the home to foreclosure.

Agreed, it’s tough to get stuck in the middle of very loose lending practices and a change in credit reality. However, I argue that so much of the crisis in housing is in fact due to speculative buying and borrowing. Not everyone deserves a bailout.