A friend of mine posted this excellent video on Facebook and I think it’s important to share it here.
Basically it boils down all the complexities involved in the current financial and economic crisis into language and images even a dolt like me can understand.
The Crisis of Credit Visualized from Jonathan Jarvis on Vimeo.
Woe unto me, in my ignorance I had used Credit Default Swaps and Collateralized Debt Obligations almost interchangeably – no more! Now I’m clear on all that…I think.
Cheers to the Wall Street guys who were so smart they took their own empire down and the rest of us with them!