It's amazing to sit here, see the economy tumble down at the pace it's going, and see the connection to the mortgage crisis. My friends and my family back in Europe ask about it, want to know how it happened, why it happened, and how to get out of it. I tell them that as soon as I am President… No, ok, I don't tell them that.

At the same time, I listen to their explanations, read those of the pundits here, and particularly check the solutions proposed by people either around me or in Washington. And all of that leaves me baffled, mostly because the situation seems so much simpler than described to me. So, here it goes, Marco's Theory of the Mortgage Crisis: