[nemild]

I'm happy to discuss with you offline (see my profile). The point I'm trying to make is that increasing the ability for greater enforcement mechanisms, should — on average — reduce the cost of loans. As I point out, there are real debates about where to draw the line about what is appropriate lender enforcement that I've personally struggled with.

I apologize that my example isn't perfect, and you're absolutely right, there is selection bias, unless there is little recourse for other products.