I found this video on youtube today and it scared the crap out of me. The images constitute a bunch of graphs we’re all familiar with on this site, but the eye-opening (ear-opening?) element is the comic commentary that accompanies the video. You’ll notice the discussion is a rock-solid explanation of SIV’s, but the audience (foreign I assume) is laughing their asses off at how ridiculous these investment packages sound.
I find this situation an incredible national embarrassment, and I can’t wait until it’s all over. Something tells me I’m not going to get my wish. How many other people out there think we won’t come out of this as the dominant economic power?
The video is hilarious – two brits talking about financial products – very tongue-in-cheek and done with straight faces
They explain how modern financial products start with a loan of a few thousand dollars to “an unemployed black man sitting on a crumbling porch somewhere in Alabama in his string vest”
They then go on to explain how this loan becomes an investment grade security
The video is hilarious – two brits talking about financial products – very tongue-in-cheek and done with straight faces
They explain how modern financial products start with a loan of a few thousand dollars to “an unemployed black man sitting on a crumbling porch somewhere in Alabama in his string vest”
They then go on to explain how this loan becomes an investment grade security
