I have a lot of friends who ask me, usually with a hint of embarrassment, “Can you explain this whole credit/housing mess to me?” They read the headlines every day, but they’re not totally sure what everything means. And can you blame them? It can be confusing even for those of us who write about this for a living. So when I came across the video below, produced by a new media graduate student, I was excited to share it. It simplifies the credit crisis (in pictures! who doesn’t love that?) and makes it easy to understand.
(I have one editorial quibble: the subprime borrowers are depicted as total deadbeats, which I think takes some of the onus off the lenders, but otherwise, what a great piece of work!)