The Crash of 2008 Explained

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Uploaded by on Sep 29, 2008

Dr. Sheldon Stahl, former economist for the Federal Reserve, explains how the traditional mortgage and consumer lending industries were transformed by greed into a worldwide con game that is now collapsing as we watch.

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  • For those who want more information, watch critically acclaimed documentary, "Inside Job", narrated by Matt Damon and got 98% on rottentomatoes.

  • Today is March 3, 2009, the dow is at $6700 and that $1 trillion exposure is estimated at $7 trillion and the CDO's are pureed into the toxic soup of nonretrievable assets. In CNBC's House of Cards, there is a section on CDO's which is execellent and I'm trying to find it on youtube. Next is coming the commercial property mortgages defaults which are even more highly leveraged.

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