I do agree that limiting scopes ahead of time would be a better overall solution. The problem is that for the next part of the cycle, when the idea of regulatio

I do agree that limiting scopes ahead of time would be a better overall solution. The problem is that for the next part of the cycle, when the idea of regulation to limit the financialization is being debated, it will be rejected because the immediate crisis is over. So I'd say it's appropriate to argue against the scheme at each turn, even though only one aspect needs to be reformed to have just system. Also, aiming for better outcomes would be more important for situations affecting resources in the real world. But commercial real estate has to be one of the most abstract setups there is. The buildings will still exist. The tenants will still exist, still carrying out their business, making rent payments, and for the most part keeping up the properties. The only thing that changes is the paper ownership moves to the senior debt holder, and the more leveraged investors get wiped out.