Alea: Putting Subprime in its Context

So the Alea Blog had a posting recently that pointed to the fact that the subprime segment is only a small sliver of the credit market and thus perhaps worries are overblown in the marketplace.

The post also had a link to an interesting report put out by the UK government that basically outlines the subprime scenario and provides a guide to what sparked the chaos in the credit market and how controls tried to curb the paranoia.