A friend had this linked in his google chat status message. I think it's awesome! Reminds me of the visualizations of the Hitchhiker's Guide in the movie.
I sent this video to my dad to see what his opinion was on it. He is a cash flow manager at a college, which means that he deals with banks a lot. He had this to say: "this is very good
other factors made it worse. one of those factors is as the quality of the mortgages got worse, Wall Street invented a form of insurance which investors could buy to protect them if the bank where they had investments got into trouble because of the mortgages they owned. I forget what this is called. It’s not FDIC it’s only as good as the company backing it. The other problem is that as the mortgage quality declined, the investors mixed qualities together and shook the boxes up so no one really knows what is inside the box until it’s too late and the mortgages defaulted."
1 comment:
I sent this video to my dad to see what his opinion was on it. He is a cash flow manager at a college, which means that he deals with banks a lot. He had this to say:
"this is very good
other factors made it worse. one of those factors is as the quality of the mortgages got worse, Wall Street invented a form of insurance which investors could buy to protect them if the bank where they had investments got into trouble because of the mortgages they owned. I forget what this is called. It’s not FDIC it’s only as good as the company backing it. The other problem is that as the mortgage quality declined, the investors mixed qualities together and shook the boxes up so no one really knows what is inside the box until it’s too late and the mortgages defaulted."
Post a Comment