Economic credit crunch explained

credit crunch basics

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Nonprofits & Activism

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• credit
• crunch
• creditcrunch
• econonic
• collapse
• wall
• st
• collaps

[73cupcake]

To the family and friends who have told me over the years that I am 'cheap', I will try really hard not to say I told you so when tshtf.

[1cyanideghost]

Again this is slightly biased, and misinforming. It was Bush who declared Iceland's banks out of spite on the terrorist list. The Icelandic people were pretty pissed off. This is a half assed portrayal but still okay for those who already have researched it.

There is a recent article on alternet (DOT) org that explains it in depth, look for it.

[xadam2dudex]

the end started when the banks began jacking up the interest rates on the adjustable mortgages to sky high levels and people couldn't afford their mortgage payments causing foreclosures then came the corporate profit taking and job loses pushing more foreclosures ..when the mortgages went sour those securities the banks fraudulently sold then started to collapse bringing down the house of cards..the snowball effect