Detailed text transcripts for TV channel - CNN - 20100201:18:25:00
>> luigi, is that a fair comparison compare agindividual homeowner to business practices essentially? >> i think it's a fair comparison if the contracts are similar. and here we make a huge distinction between what is called a nonrecourse mortgage and a recourse mortgage. a no recourse mortgage is a mortgage in which the borrower either pledges only the assets as a collateral and not as future income. that's exactly what businesses do. that's a way why walking away is part of the contract. in a weak mortgage which in most states in the united states the mortgages are recourse you pledge the as...
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