If you want a really simple explanation of the origins of the subprime crisis download this cartoon presentation. I don’t know who did it, but it’s brilliant, funny, and accurate. It was made by someone who was involved in the business.

I can’t do any better than this.

Click this link and download the PowerPoint presentation and [...]

A Look at the Inside of a Subprime Security:
WaMu Asset-Backed Certificate WaMu
Series 2007-HE2 Trust Issuing Entity
I have a deal for you. You can buy a WaMu AAA tranche subprime security today for about 68¢ on the dollar, a 32% discount on securities that were priced at 100¢ on the dollar when issued in April, [...]