The Scoop

I'm watching the CNN special on the subprime mortgage crisis, in which Bernita Jones loses her Atlanta home.

The answer to this whole mess is a question. Unfortunately, I'm not sure what the question is. In the case of the JFK assassination, the "question" is ...

"How did Lee Harvey Oswald, a known communist appearing on every government watch list (i.e. unemployable), manage to land a government job in exactly the right place at exactly the right time?"

In the case of the subprime mortgage crisis, I think the question is "Who benefits the most from the crisis?". I wasn't 100% sure until I saw the CNN special and discovered that it is the lending companies who are buying back the foreclosed homes at bargain basement prices. There's your answer. Same old same old. The rich guy makes money on the way up and again on the way down. The poor guy thinks he's making money on the way up but gets killed on the way down.

I'm not sure why CNN stops short of figuring this out.

Actually they did mention that the subprime mortgage crisis was born from the dot com meltdown and 911.

OH MY GOD -- some lady on CNN just called it a PONZI SCHEME -- check when I had this on my blog. OH MY GOD. CNN GETS IT.

I take back everything I said above.

Wow.

It is May 3rd at 11:24pm and somebody in the mainstream media told 300 million people what is really going on.

Z