T Minus 57 - The Housing Bust, Explained

"I can remember the first home I bought in Midland, Texas. I remember going down to the savings and loan and sitting down with the savings and loan officer and negotiating with the savings and loan officer. Well, this day and age you're going to use -- mortgages have been bundled, so the savings and loan doesn't own the mortgage anymore, or the bank doesn't loan [sic] the mortgage anymore, the local lending institute doesn't loan [sic] the mortgage anymore: it's owned by some international group, perhaps, or it's been bundled into an asset. And so there's hardly anybody to negotiate with. And so some lenders [sic] aren't sure where to turn. They have credit-worthiness, they may get pinched as their interest rates reset." -- George orWell Bush, Fredericksburg, Virginia, December 17th, 2007

Well, give Dumbya partial credit; things have changed. But, since we can't expect Boy Blunder to explain how or why or what went wrong (one explanation is the election of "Bush The Lesser" - which is why we're doin' this countdown to "The End Of An Error"), who can we look to, to explain? Fortunately, a dedicated reader of MnBlue sent the ol' TwoPutter a YouTube that does just that! Let's look!!!

(editor's note: YouTube after the fold; use of parody may offend some.)