Hello to all of my faithful readers. No, I have not ignored you, simply been caught in the grinder that is moving offices!

Without further adieu, I would like to post a story for all of those whose interests in structured finance is limited to Visa or Mastercard that explains in a great nutshell why the world’s credit markets are in an uproar. Another reason, is of course the bursting of the real estate bubble which has left Carlton Sheets style investors who are now left high on debt and low on equity.