Image above: A "photoshop" entry into Rene Magritte "Golconda"painting derivative contest. From (http://www.freakingnews.com/Rene-Magritte-Paintings-Pictures--2203.asp).
By James Kunstler on 18 October 2010 in Kunstler.com -
Some profound seismic infarction deep in civilization's very soul - brought on, no doubt, by the sludgy buildup of vast swindles and frauds - now propels deadly tsunamis toward the land masses where money dwells. And when they break over the shorelines of banking and capital, little may be left standing.
Well, as Joni once sang to we happy Boomers, "...you don't know what you got 'til it's gone...."
It certainly has been known for years that the value of these clever instruments is somewhere south of where they represent themselves to be - but since the crash of 2008 accounting legerdemain kept a lid on that putrid stew. The new wave of mortgage and title fraud now threatens to drive their value down to zero, that is, quite a bit lower than even the previous worst-feared estimates of mark-to-market apocalypse.