Monday Morning: Liar Loans, Bailouts, Etc.

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SANTA MONICA -- When bond guru Bill Gross starts talking about the problem of widespread ‘liar loans’, well, that means stated-income loans are a big problem. Even if you don’t care that much about bonds, interest rates and the economy, Gross is an engaging writer and fascinating thinker.

For a solid Monday morning roundup, go to www.patrick.net, where the ever-energetic blogger Patrick Killelea has aggregated the following:

--A Bloomgerg report raising the possibility of ‘the biggest housing-price decline since the Great Depression.’

--A CNN Money report .that says the true cost of a sub-prime bailout would be $120 billion.

--And, for those who read the ‘liar loan’ column by Bill Gross and didn’t quite get it, this analysis of Bill Gross’ analysis of the mortgage meltdown.