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Tonight, President Obama will address the nation in what is essentially a State of the Union speech. Sure to take centerstage is the economy. Of course, there are many out there (including us) who still have issues grasping some of the more complex parts of the current recession/depression/economic clusterf*ck. This nifty video, however, definitely helps explain the current credit crisis, however, and might be a good primer going into the President's speech tonight.
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I watched this the other day. A lot more things made sense than had previously. Fucking bankers.
Cool video, but why were the risky homebuyers smoking, drinking, fat and tattooed?
An excellent video explaining this huge crisis.
The part that strikes me most is how many people, in so many different sectors of the economy, were so blithely ignorant of consequence? From risky home buyers to investors to brokers to bankers, everyone played a role in making this mess.
Great video. For another explanation, check out seeingfinance.com
Great video. For another explanation, check out seeingfinance.com
They'd take a bit longer, and they don't feature all the nifty graphics, but I'm a big fan of the episodes of This American Life that feature Alex Blumberg Adam Davidson. I believe there are three of them as of this week.
chi-curious, at least one of those episodes is called The Giant Pool of money, which was an excellent episode. So good, in fact, that it was awarded the duPont-Columbia Award, and producer Alex Blumberg won a George Polk award for it as well.
The episode, btw, is here.