Tuesday, October 07, 2008

Palin' at the thought...

Yesterday I pleaded for insight into the 'credit crunch', along the lines of the flow chart illuminating the debating skills of Ms Palin.

I re-post below the comment I received from the very helpful Mr Anonymous...

For a primer on the American Subprime Credit Market collapse from February of this year, refer to this, and use the buttons in the lower left to advance through the story. It's funny because it's...no, wait, it's not funny. It's jaw-dropping.

For another jaw-dropping simple explanation of the "mark-to-market" fiasco, please watch the documentary "Enron: The Smartest Guys In The Room" here. You'll be thoroughly gobsmacked as to how anyone would've thought this was a good and sustainable idea, let alone that the experts that formulated such concepts are of the ilk that are now patronizingly telling us how we as the public just don't understand economics.

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