This nifty little video provides a good breakdown of what went down and why.
Basically, it boils down to what we all suspected: grossly irresponsible lending brought about by deregulation.
It seems so obvious in retrospect.
(h/t: The Crisis of Credit)
This entry was posted on Friday, June 12th, 2009 and is filed under Economy, Money, Video, Wall Street. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.