Thursday, September 25, 2008

Event: Understanding the Subprime Mortgage Crisis.

"I could sure use a $700 billion government bailout."
- My Wife

This is possibly going to go down as one of the most momentous and ground-shifting months of this century, with economic shifts taking on the gravity and Laws-of-Physics-momentum of wars, plagues, and unexpected turns of the weather. It is important to understand why this is happening, why the comparisons of our current situation to the Great Depression are, in fact, apt. And not least, in the light of the upcoming election, whose fault it is.

These are ordered based on what makes the crisis most clear, but if you want an evocative intro, check out the last article, the Times' analysis first. Also, any one of these articles will be worth reading on its own.

Paul Krugman: A Catastrophe Foretold.

The BBC: The US sub-prime crisis in graphics.

NERA Economic Consulting: The Subprime Meltdown: A Primer.

The Economist: And Then There Were None.

New York Times: Plan's Mystery - What's All This Stuff Worth?

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