With the housing market in turmoil and numerous attorney generals taking a hard look at the sales tactics and unethical conduct of numerous mortgage salesman, it's probably a good time to look at one of the greatest real estate movies of all time: Glengarry GlenRoss.

With a cast including Al Pacino, Jack Lemmon, Kevin Spacey, Alec Baldwin, and a script by renowned playwright David Mamet, it's hard to go wrong. Glengarry GlenRoss focuses on the lives of four down-on-their-luck real estate salesmen whose lives are transformed when a slick motivator from downtown proposes a sales contest: The one with the most sales at the end of the week will receive a brand new Cadillac. The number two man will receive a set of knives, and the rest will be fired immediately.

What ensues is, of course, chaos: The fierce competition and desperation lead to moral compromise. I can't help but wonder how different the atmosphere at Glengarry was from those of the subprime mortgage shops that hired poorly trained salesman to sell toxic mortgages on commission. We are currently living through the consequences of the rampant greed -- and frequently, fraud -- that ensued.

In an interview with CFO Magazine in 2005, ex-con turned fraud fighter Barry Minkow summed up the moral havoc that unbridled ambition can lead to: "It's a mentality called right equals forward motion and wrong is anyone who gets in my way. You see, we used to endorse character and integrity, but today the business ethic that reigns is achievement. And whenever you establish the worth of someone based on what they can do and not on who they are, you have created the environment for fraud."

At Glengarry and many of the mortgage brokers currently under investigation, emphasis on achievement at all costs led to malfeasance -- and a nationwide economic crisis to boot.

Be careful about watching Glengarry with children. The profanity is so rampant that, according to actor Ed Harris, the cast jokingly referred to it as "Death of a F*cking Salesman" on the set.