A Veneer of Certainty

Good overview here on the role of lenders in the subprime mortgage mess, with emphasis on the securitization of risky lending. The ugly end truth is in there...

Whether or not big investors come out okay, the damage is done for many homeowners. "The system allowed banks to create unsustainable loans that are going to haunt borrowers for years to come," says Allen Fishbein, director of credit and housing policy at the Consumer Federation of America. "Unlike the bank, the borrower has no way to lay off the risk."

Been really busy lately, lots of things going on.

Back in a day or two with more socioeconomic drivel.

Memorial Day has always been a difficult day for me, at least since I left the Army. Aside from the larger aspect of commemoration for all fallen service members, what hits hardest are the memories of the ones I personally knew and miss, a few being…

Mike F.: You didn’t deserve to pass like you did, in a stupid training accident. We tried to get to you out of there but ultimately failed and for that I apologize.

Randy S.: Your twisted sense of humor kept me in stitches. Your unerring sense of duty and incredible marksmanship are things for which I will forever be in awe. “Kang says, ‘Cease hostilities!’ “

John B.: A true humanist. Your idealism kept us going more often than you knew.

These guys are part of the long line of men & women who have paid the highest price in service to the nation and all of us are in their debt.