This is a great video for those wonder how this happened…
The Crisis of Credit Visualized from Jonathan Jarvis on Vimeo.
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A Visual Explanation of the Credit Crisis
One reply on “A Visual Explanation of the Credit Crisis”
They HAD to bring in the sub-prime borrowers. That’s because the whole game of structured finance is built on the principle of Ponzi finance. Thus, the credit crisis was a hot potato time bomb well before sub-prime. Funny thing is Wall Street bankers believe the game can get unstuck and continue. What can one say? One Peloton Partners goes down, others rise to take its place. Right, Mr. Mack?