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The Crisis of Credit Visualized

A very good animation describing the banking crisis (especially in the states)

  • shumbum
  • posted by shumbum
  • Date 2/28/2009 1:32:18 PM
  • Views: 6080
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15 Comments

Current View: 15 / Show all Comments

velocity73R : LVL 39: VP 4.7: said:

velocity73R

22 votes NegativePositive

270 days 3 hours ago...

Good video, but those CDO`s, or Derivatives come out to over one Quadrillion dollars. That is the problem. A $500,000 dollar house was leveraged upwards of 40 times making it a 20 million dollar house. This derivatives market was sold World Wide, not just in the states, that`s why Iceland has fallen into economic ruin. We will all follow as well, for there is no other way...

blue_devil : LVL 41: VP 4.9: said:

blue_devil

41 votes NegativePositive

269 days 16 hours ago...

GREED is a hell of a drug

DanHowl : LVL 32: VP 4.1: said:

DanHowl

35 votes NegativePositive

268 days 5 hours ago...

Very Informative especially in a visual form! Nice Upload

srk : LVL 35: VP 4.3: said:

srk

32 votes NegativePositive

267 days 9 hours ago...

they should put this in simcity.

d1dgreat1 : LVL 39: VP 4.7: said:

d1dgreat1

20 votes NegativePositive

267 days 9 hours ago...

Find yourself A good steady job to ride this shit out. Or invent the barter system once more.

Monocle_Man : LVL 13: VP 2.2: said:

Monocle_Man

17 votes NegativePositive

267 days 7 hours ago...

I find these things super-informative, being a more visual orientated learner. Great post!

rainfallx27 : LVL 8: VP 1.7: said:

rainfallx27

-5 votes NegativePositive

267 days 7 hours ago...

makes me happy , i didn`t go for banker in collage

saltesc : LVL 35: VP 4.3: said:

saltesc

0 votes NegativePositive

267 days 6 hours ago...

The worst part is the reverberation affecting general markets. But all of these "crisis`" have their own affect on the markets which basically comes down to a lot of really fucking smart economists doing a real good job at keeping some societies out of a depression.

What really pisses me off though is that the guys fixing things up at the moment are the guys that warned us years ago to stop. Generally, and especially in the US, economists in power just fucked shit up - like anti-regulation committees. Now that things are bust, they`ve gone crawling to the other economists that were right all along for help... and thank Gods they`re helping.

Nightshift : LVL 2: VP 1.1: said:

Nightshift

30 votes NegativePositive

267 days 5 hours ago...

So what makes an large obese family that smokes, irresponsible?

Swishy! : LVL 5: VP 1.4: said:

Swishy!

3 votes NegativePositive

267 days 5 hours ago...

^^No theyre not helping, and those "really fucking smart economists" invented the current economic system which is falling apart. It`s weird how they can create this system and not know what the inevitable outcome will be (without strict policies to prevent the malpractices presented in this video).

Vukoslavia : LVL 24: VP 3.3: said:

Vukoslavia

3 votes NegativePositive

267 days 5 hours ago...

Greed only stops driving us once we have crashed and burned..

littlep2000 : LVL 35: VP 4.3: said:

littlep2000

4 votes NegativePositive

267 days 4 hours ago...

^^ Not to completely defend them but economists don`t exactly have a lab like a physicist or a chemist. Instead you have one economy, maybe a number of local economies, to experiment with. It seems like a lot of blame to put on someone that in reality could not have seen the after effects. Who knew that repealing Glass Steagall (the ability for banks to also act as investors and hedge funds) would suddenly be combined with a massive influx of credit and lead to a crisis.

It`s like blaming the doctor when someone has a terminal illness and he presents a possibility to fix it with a calculated risk. Really we just have to take a step back, pick up the pieces, and learn from our mistakes once again.

rawrimadinosaur : LVL 38: VP 4.6: said:

rawrimadinosaur

4 votes NegativePositive

267 days 4 hours ago...

This is really really well done. Everyone should watch this

kilopop19 : LVL 37: VP 4.5: said:

kilopop19

3 votes NegativePositive

267 days 3 hours ago...

its not so much greed that caused it (though later did play a hand) but that damn government run Federal Reserve that tampers with the market constantly instead of just keeping their hands off it and letting it heal itself

kilopop19 : LVL 37: VP 4.5: said:

kilopop19

7 votes NegativePositive

267 days 3 hours ago...

oh and bush

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