I was merely pointing out Jefferson's gross contradiction, of which he has many.

NovaStar Finance is a subprime lender whose shares I once owned. Their usual loan required about 20% initial borrower equity on an average loan size of 170K. FICO scores averaged 635. Their default rates are still within the range of their risk models, and they have yet to default on a MBS bond payment to investors. They are still in business despite having their stock diluted with phantom shares 3x the number of shares outstanding. And they were one of the first targets of the hedge fund scheme that generated the current crisis. Certainly, NovaStar is unique in many respects. To my knowledge, very few if any lenders were making 300K loans to subprime customers.

Furthermore, yourself and almost everyone else must understand that the ABX Index--the one used to determine the mark-to-market value of MBS, CDO, and other mortgage related bonds--was massively sold short to drive down those valuations on the targeted companies balance sheets while simultaneously those same companies were having their stock massively shorted and diluted with phantom shares many times larger than the amount in the float, with the goal being to drive the targeted companies into bankruptcy through margin and repo calls and credit line suspension so as to buy up their assets at pennies on the dollar. In this, the hedge funds were wildly successful. BUT, too many other non-targeted companies relied on the same index and on bond interest payments from the now bankrupted companies. They then became targets, too, as the grosssly greedy hedge funds smelled blood and disregarded the consequences of their actions. That is the abridged version of how we got to where we are today. I continue to direct people to DeepCapture because there is much more to learn about our dilemma and its causes. I witnessed this as it all began as a participant/victim, and my fellows and I have gathered evidence that substantiates our testimony.