re: #19 OldLineTexan

OK, neat. Where’s the part about the social engineers making lenders loan to less-worthy risks?

This is a pretty good little clip. He slides over a couple of issues, like the one you mention, but he also slides over a much bigger one, that the price levels became a bubble, people taking out oversized mortgages on tiny houses as speculators. He even touches on “market collapse”, although he doesn’t use the term. Doesn’t mention “mark to market”. Doesn’t delve into the fact that the houses still stand, through it all. Doesn’t mention bear raids and naked shorts against the banks. And I’d quibble on a couple of the numbers he uses in his examples.

However, he touches on more points, in as straightforward a manner, as I’ve ever seen.