Extra Credit, Tuesday Edition

Reflections on Alt-A: A must-read from Tanta. "If subprime was supposed to be about taking a bad-credit borrower and working him back into a good-credit borrower, Alt-A was about taking a good-credit borrower and loading him up with enough debt to make him eventually subprime." See also: Lex gets it very, very wrong on Alt-A.

Less junk mail: the upside of the credit crunch

Le Pen sells party HQ to Chinese: "Mr Le Pen, 79, has campaigned to become president several times under the slogan ‘Keep France for the French’."

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