Subprime Lending's Smartest Guys in the Room
by Nomi Prins, Mother Jones, USA - This Enron-WorldCom déjà vu is brought to us courtesy of America's housing industry, and the standard narrative is that irrational buyers drove up home values while banks made loans to the wrong people. The truth is that this latest bust is about stock prices as much as housing prices—and that's where the real scandal lurks. Skyrocketing home prices were nothing compared to the bubble experienced by Wall Street's housing sector.

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