Extra Credit, Saturday Edition

The Auto Industry Bailout: Thoughts About Why GM Executives Are Clueless And Their Destructive “No We Can’t” Mindset

What Securitization Problem? The F.D.I.C. Weighs In: Apparently most securitized mortgages can be unilaterally modified by servicers — if they’re seriously delinquent or in default. Which is yet another perverse incentive for homeowners to default.

And yet more Financial Downfall:

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