No friday fun this week – given what’s happening with the economy, I thought I’d try something a little different. Take 12 minutes of your life and watch the movie below. Better than anything I’ve seen it nicely summarizes what’s happened to our financial markets over the last couple of years.
The Crisis of Credit Visualized from Jonathan Jarvis on Vimeo.
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Interesting. Being that I worked at that mortgage broker for a while I got to see part of that process first hand. They targeted the sub prime market and would re-visit accounts every 6 months and try to refinance people. A surprising number of people would refinance over and over, to consolidate CC debt.
Well, we are in a tailspin now, and the ground is coming up fast.
Good post Dave.