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Boy, you left yourself open on that one.

No, since I'm not one of the offenders, I don't feel "open" at all. We want the bad ones out.

But I am puzzled why you would think that the "bubble burst" (which in most of the country is simply a slowdown to a more normal pace than the past five years) is caused by criminal acts by real estate practitioners.

The ton of disclosures required with each sale and loan origination plainly state the "what ifs" to the consumer. Some sign without reading; others gamble and lose. Most read and understand, take on what they can handle, and do just fine.

You'll hear that the foreclosure rate on subprime loans has doubled in the past year, and it has. What you won't hear is that it is still substantially under 1%.