We keep hearing news from people losing their homes to banks needing more capital. One thing I keep hearing over and over again is “It’s so amazing that these mega corporations (banks) can get into so much trouble” but seldom does anyone ever explain why this whole mess happened.
Yesterday, I found these clips trying to explain the whole credit crisis from the start. While it’s simplified in many ways, it does a great job in painting the overall picture and definitely worth spending 10 minutes to watch.
Now, we all have to pay for the mistakes made for years (perhaps decades) to come.
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Related Articles at Personal Finance Blog by Money Ning:
- Watch House of Cards on CNBC to Find Out about How the Financial Crisis Came About
- Best of Personal Finance Blog by MoneyNing - Jan 2009
- Freeze Your Credit Cards to Ice Your Spending
- Increasing Your Credit Score
- Even A Decade Long Recession Will Be Okay
Read more of Simple Explanation of the Credit Crisis…
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