A Visual Guide to the Financial Crisis: Part 1

By Admin, October 18, 2012


The Financial crisis and meltdown of our banking system is complex, convoluted, and seems (according to politicians) to be everyone else’s fault. Is there anything that we clearly do know about this catastrophic collapse?


One Comment

  1. Soquel Creek says:

    You can add so much more to that chart.

    How about in 1999 when “under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people”?

    Or, one my personal favorite quotes is form the Chairman of the House Financial Services Committee. Two months before the federal government had to seize Fannie Mae and Freddie Mac, he said …

    “I don’t think that Fannie and Freddie are financially insolvent. I don’t think they need large bailouts.”

    Then, late on Christmas Eve 2009, when the media wasn’t paying much attention, the federal government promised “unlimited” financial support for Fannie and Freddie.

    Read the whole sordid story here.

What do you think?

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