By Daily Crux Editor Sean Goldsmith:

This article from Bloomberg is dreadfully short [Bloomberg added to the article since the original posting], but it's still worth mentioning because Lewis Ranieri, a former VP at Salomon Brothers, literally invented the mortgage backed security... The debt instrument underlying this entire financial crisis.

Ranieri says he's "enthusiastic" about housing for the first time in five years...

"I'm actually very enthusiastic about housing, and I haven't said that in five years," Ranieri said at the Milken Institute Global Conference. "We're within shouting distance of a bottom."

Read full article...

Crux note: Lewis Ranieri is featured in Michael Lewis's masterpiece, Liar's Poker... one of the greatest books ever written on the banking industry. If you haven't read this book, we highly recommend you buy it today. You can pick up a copy here.

More posts about housing's bottom:

Dennis Gartman's contrarian bombshell: America to face housing shortage soon

Why housing will bottom on June 30

Amazing chart shows huge increase in home affordability