I’m with Atrios. The coming option ARM trainwreck combines consumer fraud with (in this case purely legal) corporate book-cooking. Democrats need to start pounding the table now to take full political advantage of the disaster as it unfolds. I especially like the idea of legal assistance for victims of mortgage brokers’ flim-flam tactics.
Of course, the Republicans could beat the Democrats to the punch by actually doing something about the problem before it turns into a catastrophe, but it’s a safe bet they won’t.