My brother and I were talking last night about the sub prime loan whirlwind and the housing market drop.  He’s a home improvement contractor and business where he lives is actually still very good for him (he has a good name in the market where he does business).  But he’s been renting now for ages and he’d like to buy if home prices would just come down a little.  Unlike a lot of folks, he wasn’t the type to be suckered in by any of the creative financing schemes that are currently causing people to loose their homes, and CEOs to loose their jobs.

Anyway…I just thought he (and you) would appreciate this little blurb today from Atrios…

Deep Thought of the Day

Nobody could have predicted that it might not be such a good thing if the issuers of loans have little incentive to issue good loans.
-Atrios 09:27

There’s a big part of the problem right there. The other big part, is that the anti-government republicans are in charge, and they could be reliably counted on to look the other way while Wall Street went crazy with other people’s money.