Thursday, October 9, 2008

The Subprime Crisis, Xplaned

How did the economy get to be a mess so quickly? What is all this about the credit crisis and why did all these big banks and companies get so deep into trouble?

This country is facing a serious economic crisis. But do we all understand why and what it means? I'm very excited to share a new video that clearly defines the flawed subprime lending mortgage practices that led to the current situation on Wall Street.

The four minute animated movie, which can be viewed at, takes viewers through the process starting in 2000 and ending in the current day. It details the role that home buyers, mortgage lenders, banks, financial institutions and ultimately asset backed securities played in this financial mess.

I hope you enjoy it.