Friday, September 26, 2008

Video Resource on the Current Situation

Here's a very clear illustration of how defaults on mortgages have morphed into something much larger. It's worth a look.

(HT to fellow blogger Mike Fladlien at Mikeroeconomics.)
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1 comment:

DJCypress said...

I can't believe after seeing this that these mega-companies did not see this coming. Obviously, they had to have been extremely optimistic about the outcome of all this continuous borrowing and had a lot of faith in their investors. I personally wouldnot have put all of my trust into someone else's ability to pay off their debt.I guess this is what happens when you neglect to draft a Plan B.

September 28, 2008 at 7:44 PM

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