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[This Just In] There IS Meaningful Housing News On Comedy Central

You gotta love Jon Stewart of the Daily Show. [1] He is making news more accessible to young people (my kids and, of course, me) by delivering it as entertainment. He’s had some interesting guests on the show to cover the housing market. The housing market situation is so ridiculous, it is a natural fit on this kind of show.

John Stewart: People would come in and say “I don”t have good credit, or a job, and my car has been repossessed and I’d like a house, what do you think?

Lender: Ok

Last night I saw the interview with Richard Bitner [2] who is humping his book, Confessions of a Subprime Lender [3]. I was in a BN a few weeks ago and almost picked it up. I had read the interesting review in Daniel McGuinn’s [4] Newsweek Resident Expert column in the spring but was already OD’ed from subprime talk.

But after hearing the interview last night, and the fact that he speaks with such clarity, I would imagine it’s a fun read. He was a wholesale lender, providing mortgage money to mortgage brokers…and guess what?…underwriting standards eroded.

Looks like another reason to delay reading War & Peace.

See the clip [it starts at 15:00] [2]