The credit crisis as Antarctic expedition

[PktMma]

That sounds good but as you said the expeditioneers have a short memory. What if they full up again with the same bag cargo before Henry comes back?

[mingdontsing]

thanks for making exam study fun as hell

[ACtruth1]

They should make a children's book on this so maybe our kids won't be so stupid.

[milan82]

Great Video

[atofinkelstein]

We must have on a subset of allowed finansial transactions - all accounted and registered.

Also limitations of trade on finansial assets and liabilities must be set. Central banks must be nationalized and belong to government. More modern money standard must be established.

But no political leader will ever even dare to speak about it and propose such reforms - he will be murdered in no time by banking clans.

[Truthiness231]

Instead of working on metaphors, perhaps we could be working on solutions? ^.^

(just a joke, of course; I understand the first step is informing the masses about the problem as best we can)

Seriously though, good metaphor. Though, by the metaphor, we could solve these problems if we just throw enough of these rich fucks into the abyss (thus filling the "problem hole"). I like it! ^.^

[Jfrisella]

I second that

[DeltaUnifomDeltaEcho]

I am wondering why these videos don't have a million views or more... Still, I am enjoying them, and it's very interesting and relevant information. Thanks for putting them out there.

[abhish1984]

Thanks Paddy, this is an excellent video that explains the crisis in very simple terms. I really hope more and more people watch this and understand the actual reasons for this 'bad' situation, rather than plain blank pointing fingers at any thing that looks ugly.

[stewart0312]

Excellent video to explain what is happening. However I disagree with the idea that Henry Paulson will be able to sell the toxic assets for a profit.

[mjpcuervo]

It's a nice story that might be useful to help understand what's happening. BUT, ultimately it's as deceptive a work of fiction as the more 'realistic' story about struggling banks facing a difficult economic

situation. The current crisis is entirely the making of the banks themselves, they are enormously powerful, and not likely in any way to 'fail', 'fall in a crevasse' or 'freeze to death'.

[MyFreeCredit]

Nice vid. Thanks for sharing.

[HansVonMigel]

well rescuing a man from the hole is noble , in financial reality it might be consider as unfair.

[yuk2k]

brilliant! i will share this with my friends, but please get more than 3800 people to watch these videos. 95% of the american people have no clue what is going on in the financial system, and the media does an abysmal job of explaining it to them. the only thing that the public takes away are hot words like "recession," "depression," and "crisis." The bottom line is a fearful reluctance for consumers to spend, and a great discern for bailouts. please keep up the good work.

[TENNISCHAMP98]

Awesome ! keep up the great work

[sarakbarz]

This is great. I love the Antarctic expedition analogy. But will you do a another version now that Paulson is buying preferred stock instead of toxic assets?

[nonoctave]

I am enjoying these entertaining propaganda vignettes, there are really nice. I wonder though if you'll put together an amusing follow up story now that it this entire explanation is known to be a pack of lies that have enabled the greatest looting of any public treasury in history? Looking forward to it if you are.

[rfpuyana]

Excelent way of explaining. Thanks a lot for this knowledge sharing