My fault on this if it's reading as if bad loans to unqualified people is the cause.


The CDO/derivitive issue is the real cause of the problem - $65T worth of it, compounded with an $11T debt which we're trying to spend out way out of...despite being $11T in debt.

That's $76T of bad paper. Or 6 years of American GDP paid off. It's not going to get fixed by spending money we don't have. That much I know.

What I don't know is where the fall ends, or how to fix it.