Hey,

Thx for an intelligent comment. But we really don't disagree that much. If you're saying that the real estate market was pumped up by speculators and irresponsible mortgage underwriters (and borrowers!) to absurd levels that it should not have reached and from which it must come down then -- yeah! We're on the same page.

But you put it exactly right:

The danger with that side of the equasion, though is that through securitization of loans and trading of bonds and derivatives, most of the financial world has some exposure to these bad loans, and may or may not know about it.

Having let it get to this point, we gotta worry about how it comes down.