Subprime Mortgage Crisis - An Explanation in Cartoon - Pretty Funny

[Jamnt]

http://www.suburbanhousehunters.com/about/mortgage-crisis/

[malaise]

1. Very good

Thanks

[Perry Logan]

2. Thanks. I need all the help I can get with this economic stuff.

[mdmc]

3. what a great website

:kick:

[Delphinus]

4. That lays it out pretty well -

my eyes only glazed over once!

[AP]

5. Damn flippers.

/sarcasm.

[AP]

6. Damn flippers.

/sarcasm.

[pretzel4gore]

7. the tree fort gang and the apple orchard...

the youngster bush, 7 years old, was in trouble for burning down the barn with all them sheep inside, and the tree fort gang figgered if they raid the orchard and give everyone shiny green apples, the adults get diarrhea too and forget youngster bush destroying the wool industry, the only industry in town- and w/out wool for their eyes, the adults see alot more then they wanted too, darn it, and ....so on (meanwhile, they sure forget the youngster bush's bad habit of playing with matches in haylofts etc)...also, wwwhen the gang raided the orchard, too bad they cut down all the trees to get the apples, but, one thing at a time, ok!)

[bluerum]

8. That is pretty funny. Except that it does not end there - the fed is now bailing

out the assholes that created and marketed the crappy mortgage backed securities.

The fed has not even had the courtesy of trying to fig leaf their bailout - not even a pretense of wanting to protect the investor in all this. Wall street has bought access to our tax money.

How in the world has it come to this. We are funding a giant scam machine - we don't have a voice or a choice.

I have my own nit to pick about the portrayal of the home buyer. Just because buyers don't have $50k for down payments, or make $100k a year, does not make them liars. I would estimate the portrayal of the home buyer as a lying weasel is appropriate in less than 10% of all defaulted mortgage cases.

[annabanana]

9. Damn! I'm an economic illiterate, and I could follow that!

(Poor Norway, , and everyone else stuck with bad paper)

[aikoaiko]

10. oh, I see now.

[annabanana]

11. kickety kick!.. . . . .n/t

[Kitty Herder]

12. Brilliant!

Very helpful for a dummy like me. Sort of a subprime for dummies.

[Quantess]

13. I liked it!