In case you or your child don’t understand why your net worth is dropping precipitously (animation starts at 0:28): Courtesy of ABC News.
Posts Tagged ‘subprime crisis’
Credit Crunch Animated
Posted in Economics, tagged ABC News, banks, credit crisis, economy, Robert Krulwich, subprime crisis on October 12, 2008 | Leave a Comment »
Main Street Mirror
Posted in Economics, Politics, tagged American Dream, banks, Bethany McLean, economy, loans, Main Street, mortages, NYtimes, subprime crisis, Wall Street on October 3, 2008 | Leave a Comment »
In a NYtimes op-ed, Bethany McLean asks the question we’ve all been asking: Who’s to blame for this mess? In a balanced response, rather than just point the proverbial finger at Wall Street, she also considers the role borrowers played: But who made the decision to take on that mortgage she couldn’t really afford? Who [...]
A Lack of Sympathy
Posted in Economics, tagged Bear Sterns, Chapter 11, Economics, investment banking, Lehman Brothers, NYtimes, pathos, subprime crisis, sympathy, the economy, Wall Street on September 19, 2008 | Leave a Comment »
I don’t think I’m capable of mustering much sympathy for the employees of Lehman Brothers. I know most of its employees aren’t responsible for its disappearance. But when many Americans are losing their homes, their dreams dissipating in Ch. 11 courts, the travails of the now unemployed denizens of Wall Street, no matter how innocent [...]
