Implode-O-Meter pokes fun at mortgage mess
Want to know how many lending institutions have eaten it?
Go to the Implode-O-Meter, a Web site that tallies the number of financial operations in trouble. The latest to implode: Lehman Brothers SBF, IndyMac Bancorp, Mortgages Ltd., Wilmington Finance - Wholesale and Accredited Home Lenders, Home Funds Direct.
Those topping the non-imploded list: Assurity Financial Services (Retail), Assurity Financial Services (Wholesale), Key Financial Corp., Megastar Financial Corp. and Foundation Financial.
The New York Times says the Implode-O-Meter is the brainchild of Aaron Krowne, a former researcher at Emory University in Atlanta. A computer scientist and mathematician, Krowne, 28, started the site in 2007, believing that the troubles in the housing market, and by extension the mortgage industry, would worsen.
