Well you’d have to be dead or hiding in a cave to have not heard the word Sub-Prime meltdown in the news the last few months. I have commented on the nature of this “melt-down” (Scam is a more appropriate term IMHO) in my piece “The real cause of the housing bubble” but the following link will bring up a very fun little animation on the Sub_prime Mortgage meltdown and how it all worked, or rather didn’t work.
~ by Eric Harrington on September 28, 2008.