Subprime Mortgage Mess Explained With Stick Figures

[BruteForce]

Here’s a funny yet educational slide show (http://docs.google.com/TeamPresent?docid=ddp4zq7n_0cd jsr4fn&skipauth=true&pli=1) explaining how the subprime mortgage mess was created through some complex financial trickery and well… simple and stupid assumptions. You know, like (1) housing prices always go up and (2) you can always refinance to another loan. There are a few expletives, but I would rate it PG-13.

[Blk Mamba]

Eggzactly!!!

[knine]

That reminds me, I need a new garbage can.

[SC Cheesehead]

Nails it spot on!

SCCH

[J D]

wow, that was great, I gotta send it to my finance teacher, he'll get a kick outta it, and might post it for the class.

BTW, how'd you find that?

[Dragcity]

Glad mine is paid off. Although, my house isn't worth much more than I paid for it 20 years ago.... Investment my arse.

[1of327]

As a loan officer...there is alot of truth to all that. It SUCKS, and were all going broke.