Foreclosure Defense Florida

“The Big Short”- The Most Brilliant Piece of Financial Journalism Written

Click the link below for a fascinating 60 Minutes interview with the author of a book that details the collapse of the subprime mortgage industry….the effects of which you and I will pay for for decades to come.   Plaintiffs continue to be rewarded for improper and counter-intuitive behavior.

60 Minutes Interview With Michael Lewis

A handful of Fat Cats bet big against Americans while the subprime industry created the bad mortgage products that were necessary to fund the bad bets.

THEY KNEW THE SUBPRIME MARKET WOULD COLLAPSE.   HOW CAN IT BE RIGHT FOR JUDGES TO REWARD THIS CONDUCT BY GRANTING FORECLOSURES?

One Comment

  • forensicmortgageexaminers says:

    For those who don’t want to rush out and buy the book, you should AT THE VERY LEAST read the article in Vanity Fair about Michael Burry, the guy who started Credit Default Swap in the “subprime” mortgage sector.

    Here’s a link the the Vanity Fair (April issue) excerpt of this book.

    https://www.vanityfair.com/business/features/2010/04/wall-street-excerpt-201004

    In addition to tell Dr. Burry’s tale, it provides a VERY simple and concise explanation of Residential Mortgage Backed Securities (RMBSs), Credit Default Swap (CDSs) and Collateralized Debt Obligations (CDOs).

    I firmly believe this article is a MUST READ for everyone!

Leave a Reply