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This is a link post Credit Crisis explained
I'll be honest, I've not really been able to see the effects of the credit crisis (except my pounds arent worth as much in Spain now), but this video really helped to explain a lot.

Basically, people got greedy.

Nicely done vid, thought I would share.
(, Fri 27 Feb 2009, 10:44, , Reply)
This is a normal post nice
(, Fri 27 Feb 2009, 11:04, , Reply)
This is a normal post Ace
Really good find. I understand it alot more than I thought I did now.
(, Fri 27 Feb 2009, 11:30, , Reply)
This is a normal post ^clicks
I like his mellow, rounded tones as he's explaining the impending financial apocalypse.

I firmly believe that if everyone had to justify their life choices (e.g., I'm going to make money by selling mortgages to people who can't really afford them) to a panel of elderly ladies, situations like this could be avoided.
(, Fri 27 Feb 2009, 11:22, , Reply)
This is a normal post oooh,
I like your ideas and I wish to subscribe to your newsletter.

Also - a woo for the portrayal of the 'Sub Prime Family'
(, Fri 27 Feb 2009, 11:24, , Reply)
This is a normal post I was offered a 110% mortage at one point
utter cunts, thankfully I knew better than to do something stupid like that. Mortgage lenders just didn't give a fuck.

Good vid! *clicks*
(, Fri 27 Feb 2009, 11:23, , Reply)
This is a normal post yes, the mortgage lenders really are cunts
such a shame they are all fucked now
(, Fri 27 Feb 2009, 11:47, , Reply)
This is a normal post What's a shame
is they are all fucked with our money at the end of the day
(, Fri 27 Feb 2009, 11:51, , Reply)
This is a normal post But at least they had a good time though eh?
bless their little silk socks (from Harrods)
(, Fri 27 Feb 2009, 12:49, , Reply)
This is a normal post Wow! This vid has restored my faith in the power of the internet
I'm serious, great vid!
(, Fri 27 Feb 2009, 14:20, , Reply)
This is a normal post
Wow, that was really useful- good find!
(, Fri 6 Mar 2009, 16:08, , Reply)
This is a normal post ace
I work in finance (only an Admin, and my company is not a bank) and this is the most cogent explanation of what's happened that I've seen. Thanks.
(, Sat 7 Mar 2009, 9:05, , Reply)
This is a normal post might try and use this for business class tomorrow (despite being in uk)
thanks newsletter!
(, Sun 8 Mar 2009, 10:20, , Reply)
This is a normal post Nice vid
Epilogue: Governments buy bombs to "save the economy". Sell government bonds to cover the bills. Future generations end up paying for the consumerist excesses of the past two decades. But future generations don't have a vote so the system works.
(, Sun 8 Mar 2009, 20:17, , Reply)
This is a normal post Awesome video
Thanks for the link.

One thing it needs to mention is that the higher risk loans continued to be rated AAA and sold on as such, due to the certifiers in the US basically not giving a fuck as they were all making too much money. Credit streams' risks were understated and that's when it all blew up.
(, Mon 9 Mar 2009, 13:06, , Reply)
This is a normal post As I understand it
The loans were rated by people who didn't understand them, because anyone who did understand them was off making money off them in a much better job than rating loans.

Also the vid missed out the correlation thing, and that formula that they were using. But otherwise awesome.
(, Mon 9 Mar 2009, 15:33, , Reply)