This is a nice illustration of progress as we know it, and the choices we have going forward.
This is a diagram, put together by an expert on securitization, showing what has happened to his mortgage since he closed. (Click image for a larger version). This is insane! If you missed out on the This American Life chronicling Toxie, a toxic mortgage bond the economic team at Planet Money dissected, it is worth checking out. Does this make any sense? Why do America’s best and brightest work on Wall Street, so they can engineer transactions like this one?