The Credit Crisis Visualized
I found a good video that visualizes the current credit crisis very well, minus one major change. The video claims the insurgence of sub-prime loans began after September 11th. However, according to a 1999 New York Times article
Fannie Mae, the nation’s biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people
Fannie Mae Eases Credit To Aid Mortgage Lending
Therefore, at minimum, sub-prime mortgage loans were forced to be lent with pressure from the Clinton Administration years before September 11th, but it’s affect on the economy didn’t help. Other than that issue, it puts the crisis into understandable pictures for everyone’s understanding.
