In case you missed it, check out the October 7, 2010 Daily Show’s send up of one version of the “Who’s-to-Blame for the Mortgage Crisis” as The Daily Show and Wyatt Cenac chronicle the Mortgage Bankers of America’s self righteous preaching of the moral obligation to pay a mortgage in the face of declining values…despite its own default of a $79 million loan on their own HQ building because it was underwater.

Apparently, the rest of us have a moral obligation to pay mortgages on underwater real estate, but the Mortgage Bankers Association of America, the professional organization that includes your mortgage lender, doesn’t.  I wonder who MBA screwed and if they’re feeling as magnanimous.

If you’re losing sleep about whether or not your bank is hurting, watch this.

 


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