Buddy,
More of the same:
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Alt-A Loans and Pesky Resistant Subprime Loans: The Lingering Mortgage Beast. $1.1 Trillion in Active Toxic Waste Mortgages. PennyMac Ready for Toxic Mortgages. What Happened to the Public-Private Investment Program?

One thing the happy cheerleaders in the financial circuit fail to have is basic logic.
Think of it this way.
Why would we need all those trillions in backstops if we are now officially out of the recession?
I’ll tell you why:

These are the same people who led us to financial Armageddon and here they are promising the public once again that all is well yet quietly, they are developing methods to unload the remaining toxic mortgage waste so they can effectively be absolved from their massive financial sins. Who better to know what crap is on their balance sheets than the mortgage manure producers?

This is certifiable insanity!

Now wouldn’t you think it would be prudent to at least call in folks who were whistle-blowing before the crisis to buy up some of these mortgages at the right price or at the very least, didn’t produce the actual junk?

Of course this isn’t going to happen because crony Wall Street knows that once we open up the books, we know what kind of toxic mortgage waste we are going to find in their Pandora ’s Box.
Their plan is to unload this mortgage chum to the U.S. taxpayer now that they are drunk on financial happy talk so once things sour again, the mortgages will now be fully on the taxpayer’s back.
Whoops!
Now it’s your problem.