Here’s a bit of animation that tries to explain just how the US got into this financial mess. It’s a pretty simplistic, if not completely accurate, lesson. Some omissions include the government’s role in pushing sub-prime (aka Risky) mortgages onto the market… But overall, a nice “Economic Crisis for Dummies” lecture.
Posts Tagged as ‘mortgage’
November 7, 2008
Quotes of the Day:
I never thought this day would ever happen! I won’t have to worry about putting gas in my car, I won’t have to worry about paying my mortgage. You know, if I help him, he’s going to help me.
– Obama supporter Peggy Joseph
A government big enough to give you everything you want is [...]
October 12, 2008
How Did This Happen?
[ED: In an effort to trace the recent economic collapse, Dan Dafler dug deep in to the Internet archives of the NY Times to bring you this byline from 1999 - smack dab in the "Clinton Years". We've added the bold text for emphasis.]
September 30, 1999 Fannie Mae Eases Credit To Aid Mortgage Lending [...]
