Understanding How Norvik, Norway has Been Effected by the Mortgage Mess

I watched the best show last night--CNBC's "House of Cards"...it was a fascinating look at how we got into the current mess, complete with interviews of the folks who made the decisions that started it all (and they remain totally unrepentant, I might add!) The show goes through the origins of the loans, the development of lucrative bundling of the loans that produced a huge demand for them--and how young people who had literally worked as "pizza delivery" people a month earlier were making 20K a month selling these loans. They then were packaged up, rated AAA and sold to municipalities looking for safe investments--enter Norvik, Norway. This is well worth the couple of hours to watch--highly recommended!

CNBC HOUSE OF CARDS