Dallas's Richard Bitner Explains the Subprime Mess to Jon Stewart

Categories: Biz

Funny thing. So, yesterday I e-mailed Richard Bitner, because I'd just read this U.S. News & World Report Q&A about his involvement in the "subprime debacle." Bitner lives in Dallas and, a decade ago, began snapping up subprime loans; eventually, he turned it into quite the profitable business called Kellner Mortgage Investments. Bitner sorta saw himself as a modern-day George Bailey, as Newsweek put it in March. Then, of course, everything went to hell, and earlier this year Bitner self-published an explanation and apologia titled Greed, Fraud & Ignorance: A Subprime Insider's Look at the Mortgage Collapse.

All's I wanted to know yesterday was, when had it been picked up by John Wiley & Sons and rebranded Confessions of a Subprime Lender: An Insider's Tale of Greed, Fraud, and Ignorance, which came out a couple of weeks ago. Bitner didn't get back to me yesterday -- with good reason: He was in New York taping The Daily Show with Jon Stewart. Here's that primer. But the best bit from last night's show was Jesuit grad Wyatt Cenac's piece on Obama and the old Jew vote. Much, much funnier. --Robert Wilonsky

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