Y'know what gets me? The Savings and Loan crisis also involved massive amounts of uncapitalized real estate investments repackaged as investment "products". Of course, the S&L was a clusterfuck in other ways as well, but we've been here before.

In fact, we been here over and over, at least every 5 years since Reagan. And yet, the market is presented as some ideal thing, when it regularly is prevented from collapse with an infusion of public and private bailouts.

How does this make sense?