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September 27, 2008

Understanding the Credit Crisis [dri]

The current credit crisis is a tough concept for most people to grasp. It can't really be summed up in a sound bite or in a short blog post. The subject involves complex financial terms of art and a byzantine labyrinth of governmental regulation and politics. The average person simply does not have the mental scaffolding on which to hang all of these concepts to allow them to step back and gain a broad picture of how the crisis developed and what it all means.
Below is a fast moving ten minute video that lays out the causes of the credit crisis and who is to blame. It turns very political at the end so some may discredit the video based on that. Still, I think it is a great tool for gaining a firm grasp of the current financial mess we find ourselves in.

H/T to Powerlineblog.com for the link.

Note: yes I know this was posted on the sidebar but I think it deserves better visibility as a main post.


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posted by xgenghisx at 11:09 AM

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