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"There is a coordinated default on the long-term contracts which explains why the miners are having so many spot tenders on a daily basis," said a trader in Hong Kong, who estimated that the volume of defaults had reached two to three million tons.
In general, Simon said such mistaken foreclosures "have been relatively rare, compared to the volume of defaults and foreclosure activity in today's economy".
But others push back on this, citing the volume of defaults and also the sheer number of people involved in income-based repayment plans that allow them to nominally stay on good terms with their provider while never chipping away at the principal of their loan.
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But during the summer, the volume of defaulting subprime mortgages was trivial compared with the banks' capital.
The dollar volume of defaults is also much lower.
The banks have been overwhelmed by the unprecedented volume of defaulting mortgages in the wake of the housing crash.
The basic business model was never designed for a heavy volume of defaults, and banks all over the country resort to wild measures to keep the foreclosure machine running, even forging signatures and fabricating documents when it is convenient.
Concerns have focused on the volume of data being gathered by default on Windows 10, and whether Microsoft obtains fully informed consent from users to collect and process their data.
Since the loans for mobile homes are generally much smaller than those for other houses, lenders say they have to be allowed to charge higher interest rates to secure a reasonable profit and cope with a higher volume of defaults.
There might be some credit defaults with the volume of auto loans that have been packaged, but I'm not sure that would be any different than what exists now.
But even as Congress was ending the shutdown and averting the prospect of the government defaulting on its debts, the volume of political recriminations was growing.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com