In the wake of the last two posts, here is an article that suggests bankruptcy is the best way out for troubled home owners. More than that is it is an explanation of how a John Paulson, no relation to the Tsy Secy, got rich bettnig on a downturn in the housing market. Note that you hear a lot about Don Trump whose TRMP appears to be headed for another bankruptcy, but this guy has really made the bucks. Also some good explanations of what was going on in the housing market. This is not an easy read and should raise some questions about what was going on in the markets.
This is also a peak inside the unregulated world of hedge funds. Mike Douglas in the movie Wall Street played an early version of this sort of character.
We study accounting to better understand such transactions.
Professor Elam 
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