[dtw]

Don't have time to pick that article apart, but it has plenty of half-truths, omissions, and oversimplifications. Mostly true, but just slanted/colored enough to be fuel for the fire for those who are too dumb, too apathetic, or too committed to their own point of view to learn the specifics of this situation.

My favorite part is where he vilifies the stockholders. The stockholders got wiped out, a convenient omission from this article. Bottom line, the entities were too big.

Another fun line was talking about how the investors didn't understand the complex MBSs. Poppycock. FHLMC and FNMA are not Enron. Their securities are quite simple to anyone in a position to be buying them.