Global Financial Crisis Explained
Economy | Information | History | Online | Facts | World | Global | Money
The Short and Simple Story of the Credit Crisis. By Jonathan Jarvis. Crisisofcredit.com The goal of giving form to a complex situation like the credit crisis is to quickly supply the essence of the situation to those unfamiliar and uninitiated. This project was completed as part of my thesis work in the Media Design Program, a graduate studio at the Art Center College of Design in Pasadena, California. For more on my broader thesis work exploring the use of new media to make sense of a increasingly complex world, visit jonathanjarvis.com
Comments
-
Soo... Bankruptcy for the big ones aren't free money i assume?
-
Gay
-
, will trump get rid of the G F C cuase,bill clinton stuff it, he is bad man
-
Thank you Jonathan.
-
This is why I never let the banks invest my savings. Keep the savings as savings
-
Most likely biggest factor market reached saturation point.
-
Thank you! This video was so clearly explained and I think I (someone terrified of all things finance-related) finally get this!
-
And this is who Hillary takes millions of dollars from in exchange for top secret 10 minute speeches. Seems legit.
-
I blame the regulators Why are retail banks and investment banks given so much of freedom. It's like a bad parent letting they're kid steal so that they can take a little of the stolen money away from they're kids to help around the house. short term thinking. Greed is inevitable.
-
That's one expensive box.
-
Thank you so much for this Jonathan Jarvis.
-
great explanation. solidifies my opinion of corporate America. Stupidity and greed. Well done America.
-
So all this started from subprime mortgages?
-
Amazing work
-
Make it simpler;
Tech Bubble Bursts, Greenspan is an idiot and overreacts lowering interest rates
Fixed Investments are shit, investors need alternative
Banks provide Asset Backed Securities -- form CDOs, which become a bona fide US export
Idiot people buy houses AND loans they can't afford & never pay it back
Moodys and S&P give these shit investments AAA ratings
AIG is "supposed to be insuring" the ABS; they don't and get a free pass
Housing market peaks May 2006, Sub Prime Crises hits in 2007, Bank failures begin late 2008. Global recession.
Answer: 2009 just create money and give it to banks to bail out.
At fault:
Banks
People (you fucking idiots who blame Wall St., People stole money from equity in houses in form of HELOCs, lived for free in homes without paying a dime for 3-4 years, stole copper from empty homes and got away with no punishment except a ding on credit)
AIG
Rating Agencies. -
Fantastic explanation...!!
-
Very Interesting, so as more and more houses go on the market and thus less income for the banks do they raise interest rates in order to make up for income lost or do they lower them to try and increase borrowing and sell the newly aquired houses they now own?
As a recent home owner, this shit is extremely scary -
Came here after watching "the Big Short"
-
Thank you for easy explanation (y)
10m 55sLenght
3331Rating