Blodgett Helps Explain the SubPrime Isse…

And we wonder why Buffett says that the credit markets are redefining the term "junk" debt…

How Citi, HSBC, Morgan, Et Al Vaporized Billions

| 9:07 AM

Mystified about how Wall Street’s best and brightest could suddenly up
and lose tens of billions of dollars on insanely risky mortgage bets?
Eager to one day get a piece of those billions in bonuses the same best
and brightest took home in the years when those insanely risky bets
happened to turn out well? Then watch these two British comedians
explain how our country’s most lucrative and admired industry works…

Wait–worried that, by the time you get there, Wall Street will
have learned its lesson and won’t be making those insanely risky bets
anymore? No worries! Wall Street learned its lesson all right–long
before you or any of the current Wall Street generation were born. Here
it is (Shhhh….): 

It’s Not Their Money!

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