Sorry - YouTube has mangled the video and the sound is stuffed. I can't seem to fix.
Mish alerted me that Land America had filed bankruptcy. Its a company I used to follow - but I never shorted.
The money quote: "the United States real estate economy is the envy of the world... the ability to create value out of real estate by taking mortgages and securitising them..."
And this was the seemingly boring business of title insurance!