I watched "House of Cards" last night on CNBC: http://www.cnbc.com/id/28892719/. I laughed a few times at the entitlement expressed by the interviewed US homeowners. It seems many people thought that the American Dream was about 1) Owning a home, 2) Owning as much home as anyone would agree to loan you money to purchase, and 3) Eating the equity in your home at a ridiculous pace. All in all I would consider the piece a comedy. To think that so many people think that they should own what they cannot afford! And the CDOs? Buyer beware.
Today I was motivated to re-read Jack and the Beanstalk..... Turns out I think this was a tragedy. Why was this story told to children? I'll tell my kids all about the financial crisis of 2008 before bed. Paulson will play the villian and of course the hero will be:................................