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Credit Crisis Explained

October 23, 2008
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Are you confused, like me, how all these things led to the credit crisis we have heard all over the news?

Marketplace Senior Editor Paddy Hirsch uses Antarctic expedition as an analogy to explain how the banks got stuck in this.

Previous Hirsch’s videos are also quite interesting: “Uncorking CDO” and “Untangling Credit Default Swaps“.

Here is another good explanation of how the mortgage loans led to this credit crisis: The Subprime Primer (in 45 slides)

NPR’s program, Planet Money Pod cast, is also a good source to understand what all these (economic) stuffs mean.

(via Lifehacker)

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