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Forget The Jargon, This Animation Tells You How Sub-Prime Really Works

Posted by AGORACOM at 8:09 PM on Thursday, February 28th, 2008

If you’re like most people, you know all about the sub-prime problem but don’t really understand anything more than a bunch of greedy mortgage brokers bundled a bunch of bogus mortgages and sold them off to greedier Wall Street guys, who then sold them off to a bigger group of suckers.

If you want an easy, humorous but educational illustration of how it really works, click on the image below and watch the slide show. Great stuff. Just click on each slide.

Mild warning – there’s some profanity in here as the cartoon characters get heated up but it’s all in good fun.

Credit goes to Barry Ritholtz for finding this gem.

Regards,
George

This entry was posted on Thursday, February 28th, 2008 at 8:09 pm and is filed under All Recent Posts, US Economy. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

2 Responses to “Forget The Jargon, This Animation Tells You How Sub-Prime Really Works”

  1. Agoracom: Small Cap Investment says:
    March 12, 2008 at 12:33 am

    […] of crappy mortgages. If you need a lesson on this, please take a minute to review the following cartoon but educational illustration of how sub-prime really […]

  2. Dom says:
    February 29, 2008 at 5:21 pm

    I loved the ending!

    Expanding on the implications of this mess, I read this great article a few weeks ago.
    Neal Macdonald of the CBC writes a great synopsis.

    http://www.cbc.ca/news/reportsfromabroad/macdonald/20080123.html

    Cheers,
    Dom