The Fox News All-Star Panel had a good discussion last night about the housing crisis:
Because these loans were handled in such a secretive way, it’s impossible to tell how far the problem has spread in the financial system. In addition, since real estate is overvalued, there’s really no way to prevent the crash — freezing interest rates or halting foreclosures will only delay the inevitable, and violate contracts in the meantime.
For a funny (and profanity-laced; you’ve been warned) primer on the crisis, see here.