This blog is for discussing issues in our complex global economy.
A visual video about our credit crisis. (Hat Tip, my wife)
seeing this video actually helped me realize why so many people are going out of work and companies going bankrupt. Their problem started when they began giving mortgages to the untrustworhty people. there were parts i didn’t understand though, like how the banker buys the mortgages. but in the end it didn’t make more sense. Its a cool video and a lot easier to understand than just reading how it started.
This video helped me increase my understanding of the economic crisis we are in right now. It made it clear how it all begins, and the steps the investors take to buy mortgages, and how if things go wrong, how we end up in bankruptcy. I had to watch it twice to understand everything that was going on, because there was too much information to take in at once.
The current economic problem has effected everyone as I have seen in this video. Families,companies,investors, house markets,banks,stock market, and so on. Frozen markets have devalued homes forcing families to resort to foreclosure. We dont want to spend money we dont have becasue most credit cards are scams. Investors keep all the money while we cant borrow becasue in the long run we will have to payback more and thats something we cant do right now. I think the federal reserve should step in to reduce the risk of the credit crisis.
The video was well done. I am going to show this to my children. It shows the truth, the greed, and the lost of all the companies, insurance companies, investors, private companies, Wall Street, and the homeowners are hit the hardest. The way I understood the video is that the mortage lenders were lending money to people who were risky with no proof of income, free money, and no down payment. What were the lenders thinking did they not know the domino effect it would have in the future. Where did these people get their degrees or qualifications to be in the positions to lend this money and not be accountable. It reminds me of Enron, the workers are the one’s who are suffering.
This video really helped me to see how many people are being effected by this economic crisis. The video defenitly tells the truth aboit our society. It’s scared me to know that we all have to suffer due to people that decided to take risks with their money. Lenders should have been a little smarter and thought of the over all outcome, rather then the present outcome.
I agree on how helpful the video were in understanding the truth about society. Also it is scary on how much people suffer related to the risk that they take.
this a grate video it explains everything. it looks like the investors got greedy and just started handing out bombs
Yes this video help explore why there is truth to why the
economy is the way it is becasue the banks used to give loans to
the people who where not trust worthy. Parts where confusing
like how people bought mortages for sale or resale. but at the
end it makes sense how they are able to profit.
I think that this whole mess was the governments fault in the first place. Once the deregulated ruled to the housing market people got greedy and everyone was just worried about themselves. I think a bunch of stupid people tried to act like they knew what they were doing with the housing market that’s why were screwed today. If something is too good to be true it’s probabaly because it’s not true. There’s no such thing as easy money and with the whole country living beyond there means someone has to pay for all there greed. The government has the burden in there hands right where it belongs. They got us into this mess they should get us out of it.
I think the credit companies power should be limited, but when it comes down to it the consumer is the one responsible for managing their money and what credit card they choose and how much to borrow.
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