The crisis explained
March 5, 2009
Okay, let’s see what we understood so far. There is a financial crisis, of sorts. It used to be a crisis of the realty market, but then it turned into a banking crisis. And now? General economic crisis? Or is it still just the banks? And how are the mortgage/realty crisis and the banking crisis connected? I am no economy buff, and I suppose some of you aren’t either. Here are two attempts at explaining things. The shorter one is by Jonathan Jarvis, a media design student from sunny Pasadena. He came up with a great visualization of the crisis that explains it well, too! And if you have an hour to spare, listen to the Bad Bank episode by This American Life. (Via Laughing Squid and @misscaro.)
