I suspect the latter. Your claims that "They are fear mongering!" sound like name calling to me, not illumination.
Saying that $10 trillion in bad mortgages (BTW, there are only about $10.6 trillion in U.S. home mortgages) somehow turns into $100 trillion in toxic paper is fear mongering.
I keep waiting for an explanation for how this works. Please ping me if you ever find one.
sort of anti-fear mongering, which is usually no more illuminating or helpful.
Correcting the bad math is more illuminating than spreading the bad math.