The crisis of credit visualized

[ianash]

This is the best explanation of the credit crisis I have yet seen. It runs to about 11 minutes and I hope you find it as illuminating as I did.

http://www.vimeo.com/3261363

Edited by ianash on Tuesday 17th March 17:19

[Martial Arts Man]

That is surprisingly good.

Why have none of the mainstream media put something like this together? Assuming of course, that this guy is right, which he seems to be.

Impressed; I did think it was going to be another one of those "Obama Delusion"-esque nonsense films!

[750turbo]

Bloody good! So my question is, are our Government still largely at fault? How can they be held accountable for a worldwide crisis?

[Martial Arts Man]

750turbo said:

Bloody good! So my question is, are our Government still largely at fault? How can they be held accountable for a worldwide crisis?

For letting it all happen? At least in the UK?

[AdamT]

Excellent video, thanks.

[fadeaway]

750turbo said:

Bloody good! So my question is, are our Government still largely at fault? How can they be held accountable for a worldwide crisis?

Yes, because of a lack of suitable regulation and/or not seeing the problem building up. The crisis isn't because of any one institution failing, it's the whole banking system. So it's no good complaining about a particular bank - they're only responsible for themselves, it's the regulators and/or government who are supposed to oversee the system (and the government are responsible for the regulators anyway).

Excellent explanation in that video though!

[ShadownINja]

Pretty much covered a few months ago in a BBC programme. Now, if only people didn't borrow money they couldn't afford to pay back...

[NAS]

Was send this today by a friend. Very good and simple explanation.

[ianash]

ShadownINja said:

Pretty much covered a few months ago in a BBC programme. Now, if only people didn't borrow money they couldn't afford to pay back...

Quite agree, I wasn't claiming originality, just a very clear explanation of what's happened. I've emailed it to all my address book.