Tryin’ to Understand the Economic Crisis

Everyone and their brother has an opinion or theory on how the country got into this economic situation.  Some people blame Wall Street, the financial institutions and banks; other people take direct aim at REALTORS®, builders and mortgage companies; still others impugn the American consumer and their fixation with obtaining easy money with no strings attached.

I found this short video enlightening, insightful and explains the economic predicament about as well as any that I have read, heard or seen.

Related articles of interest:

• The lesson from CIT for future financial rescues (blogs.ft.com)
• The Looters(andrewsullivan.theatlantic.com)
• Obama’s financial industry reform: business as usual (isiria.wordpress.com)
• FASB Poised to Give Firms Leeway in Valuing Assets(abcnews.go.com)