I don't know about you, but I have to admit that every time Jim Lehrer talks about the subprime mortgage financial crisis, my eyes glaze over and I either start blog surfing or nod off.
However, on Friday's Newshour, Paul Solmon used a clip from the British comedy duo, Bird and Fortune, to help describe the crisis. I still got a little groggy even during Paul Solmon. However, when A. and I watched the whole Bird and Fortune skit on YouTube, I stayed awake and laughed my ass off. Those two actually managed to satirize the whole thing.
Bill Moyers also had a look at the crisis on Friday that not only kept me awake but really pissed me off. While losing a house sucks, I assumed that simply meant homeowners will just become renters. What I didn't realize is that renters are losing their homes when the owners of their apartment buildings fail to make the mortgage payments. And, of course, many of those losing their apartments don't have the means to pay for U-Haul trucks, first and last month's rent, etc. and thus, become homeless.
At the moment, the FBI has 1,380 mortgage fraud cases pending. I wonder if each of those represent just one house, or one mortgage seller representing hundreds of homes? Either way, it's a lot of fraud cases.
There, see? You can talk about this without putting everyone to sleep.