Credit Crisis 101 - How We Got In This Mess (companies, dollar, government) - Politics and Other Controversies -Democrats, Republicans, Libertarians, Conservatives, Liberals, Third Parties, Left-Wing, Right-Wing, Congress, President - City-Data Forum

Flat2MT · 03-10-2009, 07:42 AM

Take your seats.

A visualization of the current credit crisis explained in easy to understand terms.

There will be a pop quiz next time we meet.

Class dismissed

The Crisis of Credit Visualized

njguy · 03-10-2009, 07:57 AM

Even though it's a nice video, it doesn't take into account the BILLION$ of our tax DOLLAR$ the banks received that they squandered.

Techgeek · 03-10-2009, 08:49 AM

Quote:

Originally Posted by njguy

Even though it's a nice video, it doesn't take into account the BILLION$ of our tax DOLLAR$ the banks received that they squandered.

It also doesn't take into account how the government forced banks to extend credit to less credit worthy borrowers via the Community Reinvestment Act.

le roi · 03-10-2009, 10:27 AM

In my mind, if Fannie Mae and Freddie Mac hadn't been hybrid companies/agencies, then the other issues that led to this crisis would probably not have occured. Those organizations were abominations that distorted the mortgage markets; I remember the phrase "Too big to fail" being tossed around to describe them before the housing bubble even began.