The Credit crisis visualized
Great visualization of the credit mess.
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March 2nd, 2009 at 12:59 pm
Thanks for this. Was always confused with the jargon
March 12th, 2009 at 8:43 am
Great stuff! One part that is missing is the government complicity and influence on all of this.
During the Clinton and Bush administration serious pressure was put on financial institutions (including Fannie and Freddie) to extend loans to those who typically would not qualify. Serious regulations were put in place to ensure that a percentage of unsecured homeowners were given a pass on credit issues…
see this video:
http://www.youtube.com/watch?v=_MGT_cSi7Rs
November 27th, 2009 at 2:24 pm
Actually, the government had less to do with this than a lot of people would have you believe. Have you heard about the impending commercial real estate collapse? Was the government pressuring lenders to lend to business also? No. The community reinvestment act had a little to do with the crisis, but not much. Both republicans and democrats supported the act also.
Lending practices were just non-existent for 5 years which led to somewhat fake economic growth.