PBS released an 11 minute and 38 second video about moral hazards in the mortgage market.

IndyMac Bank was recently seized by Federal regulators, who are doing everthing in their power to prevent over-leveraged mortgage companies Fannie Mae and Freddie Mac from failing.

This parody Bird & Fortune Financial Adviser video really captures the essense of the modern banking system.

The subprime mortgage crisis was also covered in this funny but curt slideshow titled The Subprime Primer.

According to a BBC interview with Citigroup’s CEO Sir Win Bischoff, house prices in the UK and the US are likely to fall for another two years…but then again, they are part of the same banking system that never saw the initial collapse coming.

If you look at the 30 day trend at housing watch, MLS listing prices are down in all but 2 of the featured markets.

The ugliness is likely to only get worse as this meltdown spreads to other markets and the government starts getting more aggressive with market regulation. Rep. Brad Miller talked about how bankruptcy laws are robbing American home owners of their houses

Clip Syndicate also featured a great video with Andrew Busch of BMO Capital, discussing foreclosures and the pending meltdown of the subprime mortgage market, how it is effecting other markets, and how he is seeing increased attention from the Illinios government.