The Subprime Mortgage Crisis Explained with Cartoons
If you don’t understand a whit about what’s happening with the credit crisis and the whole subprime mortgage mess, here’s a primer – in cartoon form – at Joey deVilla’s Accordion Guy blog: Link
Or, if you’re literary and like readin’ words, the New York Times has a nice write up.
Raise your hand if you don’t quite understand this whole
financial crisis.It has been going on for seven months now, and many people probably feel as if they should understand it. But they don’t, not really. The part about the housing crash seems simple enough. With banks whispering sweet encouragement, people bought homes they couldn’t afford, and now they are falling behind on their mortgages.
But the overwhelming majority of homeowners are doing just fine. So how is it that a mess concentrated in one part of the mortgage business — subprime loans — has frozen the credit markets, sent stock
markets gyrating, caused the collapse of Bear Stearns, left the economy on the brink of the worst recession in a generation and forced the Federal Reserve to take its boldest action since the Depression?
this post? Please 
Sue Dunham
Not Happy
bean
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