This is not really news to those of us who live in this part of Florida. Kim and his friends were a little more blatantly fraudulent than most, but this kind of "get rich quick" mentality combined with incredible stupidity on the part of the lenders -- who were really loan brokers, not lenders -- and a total lack of federal oversight are what cause first the housing price runup that priced honest working people out of the real estate market, then led to its collapse. I note that comments from antisocials on this article blame the Community Reinvestment Act and "liberals" who boosted it for our housing and lending problems. I don't know whether these antisocials are stupid, deluded or lying. But around here our big default problems started with "free market" schemers, not low-income working people who just wanted a place to live. Of course, now we working people are losing our jobs and can't pay *our* mortgages. In the end the Richie Riches will be richer because they'll suck up the bailout money, and those of us silly enough to work for a living will be burnt even more. Not that I'm complaining, mind you. My wife and I don't really *need* this house we live in...