Awesome video on understanding the credit crisis (1 Viewer)

[karnage]

Hi guys, i came across this video from another person. Thought it was very good in terms of understanding the credit crisis in the most simplest way as it uses heaps of visuals. Really recommend watching it, its about 10mins. Should help you 09ers out heaps.


YouTube - The Crisis of Credit Visualized - Part 1http://www.youtube.com/watch?v=Q0zEXdDO5JU&feature=channel_page

YouTube - The Crisis of Credit Visualized - Part 2http://www.youtube.com/watch?v=iYhDkZjKBEw&feature=channel_page

 

[mrcalkin]

AA++++ video enjoyed it and learn a shitload of things

 

[LordPc]

woah, 10 minutes of video? my teacher explained it all to our class in about 2 minutes. i dont really see whats so complex about it all really

 

[gnrlies]

woah, 10 minutes of video? my teacher explained it all to our class in about 2 minutes. i dont really see whats so complex about it all really

Well if you dont see whats so complex about it then you obviously dont really know anything at all about it.

 

[nimssyk]

^^ lol so true.

i like this one about sub-prime mortgage crisis:

YouTube - SubPrime Mortgage Mess Explained (with voice)

 

[Shnurs]

incredible video, quite easy to understand.
this should get stickied

 

[LordPc]

Well if you dont see whats so complex about it then you obviously dont really know anything at all about it.

ouch! a little bit touchy there, arent we?

I just watched the vids and they are indeed interesting and simple to grasp, but are really making it complicated.

it really just boils down to people were being given mortgages when they shouldnt have because banks wanted more money. the term "risky" didnt seem to bother lenders anymore. this is obviously stupid and going to result in problems when they all stop paying thier mortgage off, which ofcourse is exactly what happened.

banks now have too many houses which arent worth the money they paid and are now f**ked. they decide to use thier remaining money to buy updated versions of the OED which contain words such as "risk"