and Gulzar Natarajan connects the dots:
http://gulzar05.blogspot.com/2007/08/sub-prime-lending-now-private-equity.html
A longer article by Nouriel Roubini along similar lines but full access needs subscrption which I do not have:
http://www.rgemonitor.com/blog/roubini/208166
UPDATE: See also the discussion (at my request) in http://retributions.wordpress.com/off-topic-forum/
and a general article on housing prices http://neweconomist.blogs.com/new_economist/2007/07/house-prices-fu.html
New Economist links to a New Statesman special issue on India: http://neweconomist.blogs.com/new_economist/2007/08/new-statesman.html
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