It has a very interesting way to avoid a future mortgage crisis. The issuer of a mortgage must create a derivative bond for that mortgage and must guarantee the payments on that bond. The issuer cant duck responsibility for the quality of the mortgage by bundling it in a derivative package. If the value of a bond falls, the homeowner can buy it back.

It would probably take some kind of packaging mechanism to work in a market the size of the US, but it is certainly an interesting idea.