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The Subprime Primer

by Mike on September 20, 2008

Wondering why our banking system is on the verge of collapse? Baffled at just how a surge in mortgage defaults threatens to pancake our entire economy? Look no further than the power of cartoons:

The Subprime Primer

Some genius, unknown to me, has created this slideshow, “The Subprime Primer,” and it tells you prety much all you need to know about how we got here. (Warning: there’s some salty language here. This is not a cartoon you’ll want to share with the kids.)

For a more serious treatment, check out “The Root Causes of the Financial Crisis,” by Francis Cianfrocca:

THIS IS WHY THE ECONOMY SLOWED DOWN, BEGINNING LATE IN 2007. And I’d been saying that in this space a whole quarter before it even happened. This is also why economic stimulus plans like the one we got this year from George Bush and will get from Obama if he’s elected President, only make the problem worse, not better. And it’s also why the economy can not recover until the bad paper all runs off.

Good, if scary, reading.

Want to know more? Contact us at Ricardo & Wasylik, PL.

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