Great Explanations

I don't know who Jonathon Jarvis is. But sometimes a picture (or video) is worth a thousand words, and this is worth a couple thousand at least. Anyone who'd like to better understand the current credit crisis will find the 11 minutes it takes to watch this well worth the time.

3 comments:

Aaron said...

Wow, that was incredibly helpful. I feel as though I need to watch it 5-6 more times, take notes, and quiz my wife on it in order to fully understand (read: explain it to someone else) because it's so complicated and there are so many buzzwords involved.

Thanks for sharing this, Matt!

Matt Guerino said...

I'm glad you found it as useful as I did. If you get through the first 5 or 6 minutes it really picks up at that point, and I think the visuals do a good job breaking down all the technical language and showing what the problem is. It doesn't really matter if you understand the intricacies of a "credit default swap" or the inner workings of a "collateralized debt obligation." Non-economists can still grasp the basic problem! Which I think is important if we're going to hold our leaders accountable to lead us out of this mess in a responsible way, which they aren't.

Aaron said...

I agree! At first I was skeptical, but then it was information overload. The visuals really helped keep me tracking. I'm grateful that I can actually understand what's going on with the credit crisis now.

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