The Credit Crunch - How it really hurt us (Part 1 of 2)

The recent economic downturn (known as the "credit crunch") has hurt economies world wide. It has cost us jobs, caused us worry and given tax payers mountains of debt. The events that caused the credit crunch and the approach governments took to get us out of it are simply too abstract for many people to understand, yet alone protest against. This clip, using simple examples, illustrates what actually happened in 2008 and 2009. It explains how governments let banks exploit us and how after the banks were done with us, governments themselves did the same.

Category:

Education

Tags:

• credit
• crunch
• 21st
• century
• banking
• investment
• banks
• quantitative
• easing
• cdo
• collateral
• debt
• obligation
• sub
• prime
• retail
• commercial
• recession