The Subprime crisis explained.

[SirStev0]

Don't know if this is more P&N or OT so I rolled the dice and put it in here. If it should be moved so be it.


Text

A explanation of how everyone fucked up (and fucked over) with the subprime mortgages and futures investment. It is pretty funny and makes a little more sense for everyone like me. As far as I knew some assholes found a way to pass of the mortgages while still making tons of money and screwing people over. This explains it. With cursing.

 

[mshan]

Warren Buffett said it best during his Charlie Rose interview:

His analogy was Cindarella at the ball. Everyone knew what would happen at midnight, but they got so drunk on easy money that they thought they could get out just before the clock struck twelve.

Problem was, there was no clock on the wall...

 

[Vic]

That is awesomely accurate. :thumbsup:

 

[frostedflakes]

Hah

 

[SirStev0]

Originally posted by: mshan
Warren Buffett said it best during his Charlie Rose interview:

His analogy was Cindarella at the ball.

Everyone knew what would happen at midnight, but they got so drunk on easy money that they thought they could get out just before clock struck twelve.

Problem was, there was no clock on the wall...

pretty good analogy

 

[techs]

Originally posted by: SirStev0
Don't know if this is more P&N or OT so I rolled the dice and put it in here. If it should be moved so be it.


Text

A explanation of how everyone fucked up (and fucked over) with the subprime mortgages and futures investment. It is pretty funny and makes a little more sense for everyone like me. As far as I knew some assholes found a way to pass of the mortgages while still making tons of money and screwing people over. This explains it. With cursing.

Thanks. That made me laugh.

 

[Vic]

News article with a real life example - Text

 

[jackace]

Originally posted by: mshan
Warren Buffett said it best during his Charlie Rose interview:

His analogy was Cindarella at the ball. Everyone knew what would happen at midnight, but they got so drunk on easy money that they thought they could get out just before the clock struck twelve.

Problem was, there was no clock on the wall...

WOW that is a perfect analogy to what happened.

Edit- OP's link is also very funny

 

[smashp]

Cant Be True, What a horrible example. There was no Freddie Mac, Fannie Mae, Democrats. or Acorn involved in that example.

jk


That was a pretty good Powerpoint actually and rather to the point

 

[Brovane]

This is awesome.

 

[Vic]

Bump.

 

[beyoku]

 

[StageLeft]

lulz!

EDIT: It gets best the last 5-10 slides. The blame just keeps going down the chain.

 

[Aharami]

Originally posted by: Vic
News article with a real life example - Text

nice story there. unfortunate for her, but cant say I feel sorry for her. She was in the real estate business. She shouldve known better than to take out a 100% loan