Finally, an explanation, posted February 20, 2009 at 08:06 PM
I don't know about you, but as I watched the economy collapse over the last six-to-nine months, I found it very difficult to keep up. I mean, we all know that sub-prime mortgages are a disaster, but you know, what are they?! We all sit around talking about how the financial system is stuck in a credit swamp, but I mean, what the hell does that mean actually?! For the non-economists among us, Jonathan Jarvis has created a little tutorial. It's the most educational eleven minutes you'll spend at your computer this month. Promise.
The Short and Simple Story of the Credit Crisis.