I was reading an exciting article about the annual meeting of the Mortgage Bankers Association, which released its forecast for the 2008 housing market and the economy in general today. I was preparing to blog about it, but came across something that I found a bit more interesting.

But before we get into it, here's what the report says: the housing market isn't going to get any better until the middle of next year. New home sales are going to drop another 20 percent or so, and sales of existing homes will take an additional 10 percent dump — give or take. But the economy will stay strong, according to these guys, because of the offsetting strength of "the underlying fundamentals" which really means the weak dollar, but these guys have to be "forward thinking" or else they'd be out of business, so they try to make it sound nice. They are mortgage bankers, after all.

OK. Fine. But here's the odd and interesting thing.

Who addressed this group? Paul David Hewson of Dublin, Ireland. You know, Bono. He told the assembled moneylenders that they can "make a difference," for which he was paid an undisclosed but —  trust me — tidy sum.

Who else?

George Foreman, Martin Short, Sir Richard Branson and Creedence Clearwater "Revisited" (no John Fogerty).

I find it odd. Oh, I'm sure Bono donated his check to a "worthy" cause, but still... speaking to a bunch of mortgage bankers? With foreclosures on the rise?

Achtung, baby.