The crisis of credit visuali[s]ed

Written By: - Date published: 2:02 pm, May 22nd, 2009 - 3 comments
Categories: activism, International, interweb - Tags: , ,

I just came across this. It’s the first part of a video by a US organisation called A New Way Forward.

They’re organising nationwide video screenings of the extended version as well as town hall meetings and demonstrations to demand that their government “break up the insolvent banks and never again let them get so big that they distort our politics and corrupt the economy”.

The clip below’s about eleven minutes long but if you’re still trying to get your head around the financial crisis it’ll be time well spent.

For those who have a little more time, here’s the full version.

3 comments on “The crisis of credit visuali[s]ed ”

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  1. Rich 1
    22 May 2009 at 3:36 pm

    In NZ of course we didn’t have this sophistication. The big banks were making enough profit in straightforward banking not to need to try anything clever.

    However, we had little finance houses who managed (by tricks like hiring former All Blacks as frontmen, because a good clout to the head every week for a few years helps develop financial astuteness) to borrow money from greedy old people and lend it to greedy younger people. With similar results, albeit on a less disruptive scale.

    The only real way to fix the problem is to stop houses from being an investment and turn them into a place to live, but the voters wouldn’t let governments do that. Morons, but there you go..

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