P. S. Best viewed full screen (next to last button on the bottom).
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politicians suck, housing starts, credit crisis
Saturday, February 21, 2009
The fierce urgency of understanding the credit crisis...
If you really want to understand how the credit crisis happened, this is a pretty good primer. There's only once piece missing from it but you can add it yourself. Imagine a couple or so decades of steady government pressure encouraging mortgages of every flavor so the administration can boast big housing start numbers.
P. S. Best viewed full screen (next to last button on the bottom).
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P. S. Best viewed full screen (next to last button on the bottom).
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3 comments:
I am still trying to follow and understand all this housing and mortgage fiascoes. The video helped a great deal in understanding the mess that greed produced. We have accumulated so much debt in housing and credit cards that we don't have any additional income to buy anything else. We are drowning in credit. There is too much supply and not enough demand. The banks keep raising their interest rates on credit cards even to those that aren't at risk. How in the heck are the people supposed to pay these 'Back Alley Legalized Loan Sharks' back. Seems they want to keep use beholding to them. They don't want a solution. There is no profit in solutions.
What an excellent video! It really helped me to understand the situation. Perhaps I am wrong, but it seems to me that had it not been for greed, this housing crisis might never have occurred. The questions now are, How can we fix it and How can we prevent it from happening again?
Blessings...
It is I, again, looking for an update.
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