Finally, a web­site for all you out there in the Schaden­freude crowd, whether you’re a stal­wart Marx­ist con­vinced you’re wit­ness­ing the vin­di­ca­tion of all you’ve ever dared to believe and hope for, and are stand­ing at the edge of your par­tic­u­lar hill or dale gig­gling glee­fully as the rap­ture in reverse seems to go down in front of your very eyes; a starv­ing New York artist/teacher/grad. stu­dent who’s ter­ri­bly sick of having to send your meager dol­lars out into the New York night to com­pete for food, apart­ments, and beer with the dol­lars of the finan­cial ser­vices indus­try, which have for as long as you can remem­ber seemed to be so much more and so much more per­sua­sive than your own pallid green­backs; or whether, per­haps, a you’re merely a con­ser­v­a­tive investor/MBA type who was con­vinced that the boun­teous boun­ties of the risk rev­o­lu­tion were simply too good to be true and who is now a bit unnerved to find your­self shiv­er­ing in the cold watch­ing the wreck­age and shar­ing the spirit with a bunch of pinko com­mies and indi­gent know-​nothing artist-​intellectuals.

For all of you, my friends far and near, there’s the the Hedge Fund Implode-O-Meter. Have fun, and play nice.

The rest of you, per­haps wor­ried that a drain­ing sea strands all sailors, can read up on the latest bit of bad news out of the Fannie Mae/Freddie Mac crisis, which, as you may recall, was sup­posed to be all cleared up by now. Well, it’s not.