The Credit Crisis: What Happened?
A lot of people out there still don’t know why the economy has crumbled, why their 401(k) has tanked, and so many people are losing their jobs. Mostly, it’s because the people explaining the mess aren’t very good at it. They talk in a language that goes right over people’s heads.
Or it’s just plain boring.
So I found this video that tells you the whole story in a very entertaining, informative way.
Here is the credit crisis:
If you prefer a more personal representation, here is a cool analogy that compares the mess banks have gotten themselves into with an Antarctic expedition, which is a pretty cool metaphor when you think about it:
The credit crisis as Antarctic expedition from Marketplace on Vimeo.
I’ve been reading and following all this stuff very closely, and even I learned something from these videos. It’s important for all of us to really understand what happened so we can be informed when it comes time to vote or even handle our own finances so that in the future we’ll all make better decisions.
So thank you very much to the makers of these two videos. You have both done everyone a great service.