• Homeowners in trouble with their mortgages did not crash the market. Credit default swaps did. These instruments of mass destruction (per Warren Buffet) are behind the financial collapse of Europe (Greece, Italy, Ireland and more nations to come as the EU common currency comes apart at the seams) and the USA.
    I appreciate your effort to try to keep up, but don’t fall for the bank propaganda. The banks created the percentage of bad loans so that they could hypothecate more credit default swaps and bet against the loan pools. By the way, the loan pools were never lawfully funded and the MERS front failed to conceal the securitization failure. The investors are holding nothing. Google “Abigail Field” and “securitization fail.”