Sunday, August 12, 2007

Colbert and Cramer on subprime mortgages

I have to hand it to Stephen Colbert for summing this up so succinctly:

"Apparently some billionairs gave millions of dollars in mortgages to people who couldn't afford them, and somehow it went sour."


Gaida said...

Oh So true! With yet again, another interest rise in mortgages many Aussie families will be struggling. This added pressure leads to family breakdowns.... I remember when interest rates were 15%...and our mortgages so much smaller.