This is one of the best videos I’ve seen on the financial crisis. It was produced by Jonathan Jarvis, a designer from Los Angeles and it pretty much tells the whole story in a simple but not over-simplified way. The only thing missing is the bit where the rating agencies rate CDOs containing toxic mortgages as AAA investments. Mr Jarvis clearly has a sense of humour. I loved the bit where the brokers sell sub-prime mortgages to people who smoke and have loads of kids.
For some reason I can’t embed this video but follow the link below and you’ll find it.
Hat Tip: Wolfie.