The credit crisis explained in black and white in LAYMEN language!

Hello ATS,

Just found this comic explanation about the credit crisis.

Mystified by how 'sub-prime' debt engulfed Wall Street's smartest and now threatens the wider global economy? The following comic strip may help explain how the story started.

SOURCE
www.telegraph.co.uk.../money/2008/03/26/bcncrisis126.xml

In a nut shell.

Too bad the ending left out how when the crap builds up delinquent debt that the financial wizards that are now losing their arses will either be absorbed or "purchased by even bigger financial wizards who in turn then are losing their arses, but have deep roots seeded with gov and feds who will then bail out these losses using billions of our dollars.

All I can say is that after losing with Global Crossing, I avoided Enron and Sub-Prime. yeah me.

Next is non-internal combustion engine power source. The stench at the gas pumps is getting rancid.

reply to post by imd12c4funn


Would you take an internal combustion engine if it ran on water? All you need is to seperate it into hho with the battery electricity, which people persistantly say is possible, and feed it into the cylinders with a revised admission system, and there you have it, clean energy for a few hundred dollars.

As for the banking crysis, I'd seen that explanation, shame the OP cut out the ending where basically everyone is shouting at everyone F-U. That brought the mechanics of the crysis home to me

reply to post by Zepherian

Hello Zepherian,

I did not modify the original comic I guess thay did not post those last pages online.

SOURCE

Ah, ok. Well, there is a more complete version somewhere, if I by chance happen to find it again I'll link it, although this version does indeed cover everything anyone really needs to know about what happened, minus the people pulling the strings to make it happen on purpose so people actually lose their houses...

it seems to be a variation of the political satire sketch done by those brilliant comedians (how they keep their straight faces i will never know) john fortune and john bird.

this is their take on the subprime mortgage crisis and pay particular attention to what THEY say at the end...

www.youtube.com...