Just when you think things are bad with the economy…
…you find out it gets much much worse. A while back, I wrote a post about how the housing market killed the economy. The podcast isn’t hosted there anymore, so here it is (it’s about 27 MB). If you haven’t already listened to it, you should. Alternatively, if you want to employ the Ostrich Algorithm, don’t read the rest of this post. 
Usual web browsing got me to come across this article today. If you’re in tl;dr mode, essentially the banks were in such a hurry to package up bad mortgages and sell them as AAA investments on Wall Street that they lost or destroyed a lot of the original mortgage documents. In a last ditch effort to stave off foreclosure, some homeowners just said, “Show me the document that says I owe you money for this house.” Banks kinda went, “uhh…we’ll um…get back to you.” So instead of the banks pressuring the homeowner to foreclose and be out of house and home, the banks are now being pressured to renegotiate the mortgage.
MBAs mean jack when greed prevents you from making the most idiotic of business decisions.