The Crisis of Credit Visualized from Jonathan Jarvis on Vimeo.
I think Jonathan Jarvis does an excellent job in breaking down the basics behind the credit crisis that we’re all being affected by at the moment. As his thesis work while in the Media Design Program at Art Center College of Design, Jarvis successfully turned a complex explanation into a rather straight-forward and simple one using simple illustrations and graphics. Nice job, man!
Awesome! I had a general idea but that is really helpful ahah nice one!
I know of him at school! He’s friends with my ex. He’s got some pretty neat stuff.
pretty good stuff on the basics, but it leaves out a few important items like how deregulation allowed investors to get in on the mortgage action in the first place (originally commercial and investment banking were separated) and ignored all the subprime lending, how the real estate model was basically a conspiracy to trick people into thinking home prices were going to keep rising, and how the crappy unrated CDO’s were being re-rated AAA and being resold as such (making the crappy investments seem legit and insured).
If you want to know some more details told in a somewhat humourous memoir fashion, http://www.portfolio.com/news-markets/national-news/portfolio/2008/11/11/The-End-of-Wall-Streets-Boom sheds some pretty good light about how wall street investors had no idea what they were doing was destroying the economy (read: shortsighted and greedy) and how some people actually made a lot of money betting against the bad mortgages and their brokers and institutions.
In deed a very good explanation, and a lot of bad news for some people.