This video gives the low-down on the credit crisis, in easy-to-understand terms. One of my issues with finance and macroeconomics is a general lack of understanding about the terms used in public discussions of the issues, and this video seems to be a no-bullshit explanation of what exactly went wrong in the credit crisis.
The Crisis of Credit Visualized from Jonathan Jarvis on Vimeo.
One thing that becomes clear is that the credit crisis was not the result of any one actor, but a complex series of events that had no single cause. I have no idea how to solve the problem, but at least now I feel like I'm a bit more informed.
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