The crisis of credit – a video

This little video is making the circuit. It’s good and gives a bit of a picture to what’s happened here, but it leaves out a few details. When it talks about sub-prime mortgages, remember that Congress and President Clinton signed that little act that forced lenders into high risk areas.

I just spent an hour arguing with a girlfriend at lunch about all this mess. “It’s all that Bush deregulation” she cried. But wait! It was Democrats that refused to meet the call to regulate Fannie and Freddie as they made loan after loan.

So now, when I hear our Dear Leader drone on and on about the mess he “inherited” I kind of want to puke. The least he can do is admit exactly who left that legacy.

Anyway, watch this and see what you think.


The Crisis of Credit Visualized from Jonathan Jarvis on Vimeo.

Comments

  1. Thats pretty cool way to put it – I dont think I ever understood before that…. Maybe Jonathan Jarvis can put together a video on Renal Physiology so I can pass my exam in two weeks.