Turn On The Lights, Watch The Roaches Scatter, Part 21

Your assignment tonight is Gonzalo Lira's excellent explanation of the foreclosure crisis, which begins thusly:

I swear to God Almighty: Mortgage Backed Securities are America’s Herpes—the gift that keeps on oozing.

Price tag on this mess, as I said, will approach the trillions. Floor level? $250 billion or so for starters.

Meanwhile the anti-foreclosure revolution has begun in California, one break-in at a time.



Olive drab camo and berets for everyone!