Replies to post #925 on FirstPlus Financial Group (fka FPFXQ)

[disenwit]

I wonder if anyone has noticed that the residuals, coming from the system set up before the first bankruptcy, and really the first in the business, have actually performed better than predicted. In other words except for the way the business was funded it was a very successful business. The model however, was the fundamental problem that came much later in 2007 and 2008. By then, the collateralization of the loans had become an excuse for poor quality and so the system crashed.