Simply stated, I think when the dust settles on this dispute, the gurus of international investment banking will find that their jobs have been made permanently more difficult by the appearance of a new social investment category that has been declared taboo by some of their largest customers, and by the addition of a new and highly complicated variable to their already crowded due-diligence agendas.
In addition, a large increase in early defaults on recently originated subprime variable-rate mortgages casts serious doubt on the adequacy of the underwriting standards for these products, especially those originated over the past year or so.