The housing bubble started and ended with Freddie Mac and Fannie Mae.For decades they bundled ('securatized') worthless mortgages with good ones, selling this hybredized poison to the world and our own benighted institutions. Indeed, under the Community Redevelopement Act of 1978 banks and savings and loans started becoming front offices for Fannie and Freddie. Finally in the '90s, as the mere creatures of these institutions in poor white and black neighborhoods, they were coerced by community organizers (like our current Obama) into calling a bag of dope and a welfare check 'collateral for a down payment'. Or does such thinking about 'Liar Loans' bring you uncomfortably close to calling the legislative state's 'War on Poverty' a war on property values, a war whose first casualties are confidence and trust in underwriters and regulators? What should we now call the traditional demand for '20% down'-the payment of tribute to the exploitive barrons of Wall Street and their hedge fund minions? No, this crises did not start with the greed of wealthy elites, but with the great, poor unwashed masses and their savior messiahs-the politicians and clergy.

Was this political mulcting of the economy excoriated and fought against for decades by a muckracking liberal press, a press trying to synchronize us into outrage and disgust at this downward spiral in lending standards? Wouldn't that sort of media pressure have really made this place an 'unfamiliar country'? And no, perceptions do not destroy lives, ACORNs are here to do that! You see American ACORNs do not seed the spread of mighty modern Levittowns but foster,in their stead, the growth of abandoned and foreclosed nightmarescapes. This spreading crapulence and wretched mediocraty seems indeed to be the product of very familiar manipulators of mass psychology- our own beloved legislators and elected representatives.

It was to protect itself against this ever growing and decades long background of risk from decaying credit standards that Wall Street bankers and insurance agencies developed the Credit Default Swap. Or do you think such arcane insurance was developed to defraud the little guy out of his hard won money-ala Bernie Madoff?