Explaining why we have a mortgage problem

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I hesitate to share things that have already been shared by bloggers far more prominent than I (in this case Paul Kedrosky, who got it from Marc Andreessen), but this ITV comedy Q&A on the mortgage meltdown by John Bird and John Fortune is just too brilliant to pass up:

The description of the typical subprime borrower as an unemployed black man in Alabama is a little jarring to my politically correct American ears (and has generated lots of unfairly nasty comments on YouTube) but in general the imitation of Wall Street and City doubletalk is spot on. It’s a wonderful example of how parody often allows one to tell the truth in a way that straight reporting (and even halfway straight opinion writing) does not.

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