Finally, Some Serious Commentary on the Mortgage Crisis

September 13, 2007 (LPAC)--Notwithstanding the last weeks' public sounding of the "All Clear" from the recent liquidity crisis triggered by mortgage-backed securities (see LPAC's The Bullshit Index), the Washington Post's cartoonists, at least, seem to harbor some concerns. In the Sunday edition's Business section, one cartoon shows a woman watching TV in her living room. The TV screen says, "It's 10 p.m. Do you know what the interest rate on your adjustable-rate mortgage is?"

The contribution of the Post's editorial cartoonist Tom Toles shows an old lady looking out the window of a house in the shape of a cannonball with a bomb-fuse as the chimney, and the house is labelled "Adjustable Rate Mortgage." The cartoon's caption reads, "There was an old woman who lived in a bomb. The experts kept telling her, 'Please remain calm.'"

Congratulations, Washington Post cartoonist--today, you saved your paper from the B.S.(Bull Shit) Index column--for now. We will see you next week!