How are those subprime loans doing? The subprime problem is an old story, right?
Read the whole story here. It's the first in what will be a delightful series from the Wall Street Journal called
No-down, no-documentation, inflated-appraisal lenders like Countrywide will tell you that their subprime exposure is limited, and that their huge "Alt-A" portfolios (a notch above subprime) won't face the same issues. Are you going to believe this man?