Wednesday, September 17, 2008
Watching the meltdown of the financial sector of the global economy (yes, it's global) can be confusing to most of us. I know, (aside from the fact that I saw US sub-prime lending as dangerous and highly dubious from the start and felt that it was a hollow scheme which had no place to go but into a disaster), that what happened to have led to the collapse of long-established investment banks and large insurers was largely a mystery to me. Once the borrower had been given a mortgage they had little chance of repaying I had difficulty sorting out where things went from there.
Luckily, the Business Pundit has put together an easy to understand Subprime Primer in 45 pages of simple cartoons. When you've clicked through the whole thing, what's happening today will probably make a little more sense. And, while the cartoons are done humourously, you are probably going to come away very, very angry.
The Business Pundit is clearly getting a lot of traffic these days and pages may be a little slow loading.