On May 6, 1932, with stocks having plummeted 85 percent from their 1929 high, Dean G. Witter, founder of Dean Witter - a famous stock brokerage then and known today as Morgan Stanley, issued the following memo to its clients:
“There are only two premises which are tenable as to the future. Either we are going [...]

How did we get into this “mortgage” mess anyways?

The real question is how do we get out of it? How do we get rid of the monster mortgage, renegotiate with the bank and not declare the bankruptcy in the process?