Banking Debt Articles

A Simple Guide to Understanding How the Bankers Screwed Up and Got Us in This Credit Crisis

My bankruptcy attorney friend sent me the link this the video below and said it was a great video to help explain the credit crisis. She was right.

It is so nice to see clearly the relationship between the extremely poor decisions smart bankers made that have now trickled down to a foreclosed home near you.

If you can’t see the video below, click here.

But I found the video below that helps to explain the sub-prime crisis in layman’s terms. Just swap “turd in my backseat” with “sub-prime loan in your neighborhood” and you’ve got the equivalent of the credit crisis situation.

READ  The Credit Crunch Explained in Simple Terms



About the author

Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

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