I found this link a while back through the website Digg.com and thought it was very interesting. Basically it gives a visual illustration to the current financial problems and shows how interconnected some of the problems are.
It starts out with what I personally believe has been a major problem, with historically low interest rates. This coupled with excess funds from the burst of the dot com bubble meant that a large investment went into the housing sector. The diagram also gives some nice quotes. I especially like the last one from President Bush.
2 comments:
This is very interesting. My bubble is the one at the end that said EVERYONE
I also found it interesting how as you follow the bubble you have the former Treasury Secretary, two Chairmans of the FED and countless CEO's try to speak lightly and outright deny the problem a long the way, when we had regulators screaming at the top of their lungs but talking to the wall Congress and White House.
That was a really interesting and easy to follow and remember article. Yeah that last quote from Bush is hilarious. I wish there were more articles like this, I like the graphical approach.
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