Bronx, Knives out over Real Estate

Hey Bronx NY, get ready for a big
gang fight over real estate. At the center of the foreclosure mess lies
a giant fraud, the fraud of securitization. Through
securitization, an enormous bubble of fictitious financial values
was created, one many times the values of the assets upon which
these securities were supposedly based. This was not a problem on
the way up, as all the speculators were happy to grab a piece of
the loot, but now that the bubble has popped and the speculators
themselves are taking losses, they're changing their tune. The
dynamic reminds one of a pack of hyenas that grew large in number
when the food was plentiful, suddenly faced with adjusting to a
shortage. Without enough food to support them all, the hyenas
turn on each other, each in its own struggle to survive. Some
make it, some don't. Yesterday you were a valued member of the
pack; today, you're lunch.