2 thoughts on “The best explanation of the credit crisis in just 5 mins”

  1. What a wonderful video. It really captures the essence of the situation. It is, however, incomplete. What Mr. Jarvis omitted was the fact the government regulations encouraged this risky behavior on the part of the homeowner and at times required it on the part of the lender. More importantly the biggest holder of these investments were the government giants Fannie Mae and Freddie Mac. They had the single largest lobbying group ever created and congress routinely bowed to their wishes to lend even more money to risky borrowers. This was going on from at least as far as back as Clinton’s first term. Thus they were more leveraged than anyone else, and of course doomed to fail. There were voices that warned of this that went unheeded, but there were voices that warned of the Titanic too. In both cases reasonable people may not have seen it coming.

    Never used the money data type or really been inclined to. It has always struck me as a very “Access” oriented type. Of course, I never really wrote an app that handled money either. Apologies for the mixed comment. It’s Friday and my fingers are tired.

    Cheers
    BCK

  2. Thanks for stopping by and comment on the origins of the credit crisis. There is a long thread on the original site where this video was posted. The thread focuses precisely on the origins of the credit crisis that some attribute to the Clinton’s era…

    Regarding the money type on SQL server, see my comment reply on the original post.

    Have a great one!

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