Funny, deeply tongue-in-cheek column on subprime by writer Michael Lewis at Bloomberg. He role-plays a hedge fund manager blow up by the mortgage meltdown:
So right after the Bear Stearns funds blew up, I had a thought: This is what happens when you lend money to poor people.
Don’t get me wrong: I have nothing personally against the poor. To my knowledge, I have nothing personally to do with the poor at all. It’s not personal when a guy cuts your grass: that’s business. He does what you say, you pay him. But you don’t pay him in advance: That would be finance. And finance is one thing you should never engage in with the poor.
… never again will I go one-on-one again with poor people. They’re sharks.