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 ‘subprime’
November 9, 2008
How Could This Happen Part II
The Predators’ Ball
Fannie Mae and Freddie Mac have helped defang laws that might have prevented the subprime mess.
Michael Hirsh
NEWSWEEK
Aug. 18-25, 2008 issue
Roy Barnes is a self-described “small-town” lawyer with a mane of silver hair and an Andy Griffith drawl. But like Griffith’s Ben Matlock, the TV character he resembles, Barnes is the furthest thing [...]
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 [...]
