Aerothorn on 30/9/2008 at 03:45
My college had a great teach in on this today, split into three 20-minute stages from three different professors - I did not have a good understanding of the way the mortgage system worked and how this all happened and they explained it very well and humorously - it's going up on youtube so I'll try and remember to post it here when I'm done.
BlackCapedManX on 30/9/2008 at 06:31
Please do so. Being on an art school campus means we miss an intelligent thing or two about what's going on with the world on account of our professors, so I'd love to see it.
Pyrian on 30/9/2008 at 06:34
Quote Posted by Scots Taffer
Single largest point drop in history...
Point drop isn't nearly as relevant as percentage. In percentage terms, it's still hefty, but not nearly champion.
Scots Taffer on 30/9/2008 at 06:45
Sure, but it's still what I said it was.
Tonamel on 30/9/2008 at 07:03
Quote Posted by BlackCapedManX
we miss an intelligent thing or two about what's going on with the world
Check out (
http://www.thislife.org/Radio_Episode.aspx?sched=1242) this episode of This American Life from back in May. It explains how things started to get bad in a way that's very clear and easy to follow.
Rogue Keeper on 30/9/2008 at 09:36
Now I'm thinking how fortunate is my little country, being so 'poor' with barely developed financial market and no stock exchange. Although global crisis will affect every corner of the world somehow, since financial institutions and ownership relationships are so sophistically interconnected, the poorer countries will be less destructively affected by actual happening on financial market. A beggar has always less to loose than a noble man.
fett on 30/9/2008 at 12:28
BR - exactly what I'm thinking as I sit here with my two junker cars (paid for), my middle-rent house, no CD's, stocks, bonds, savings, or 401k. Unless I'm really dense, I can't see how this is going to affect me personally. That being the case, I hope the greedy corporate fuckers go down in flames--I've been getting screwed and burned for as long as I can remember on everything from small business loans, to companies that owed my business money filing bankruptcy (but staying in business themselves - wtf??). Now if only the oil companies would sink, I could have a good laugh while I walk my kids to school and my wife rides her bike to work. Jump, you fuckers indeed. :mad:
ignatios on 30/9/2008 at 14:22
Quote Posted by BEAR
That is great. I love how they misspelled fuckers and had to correct it (it looks like)
this
Swiss Mercenary on 30/9/2008 at 15:03
Quote Posted by fett
BR - exactly what I'm thinking as I sit here with my two junker cars (paid for), my middle-rent house, no CD's, stocks, bonds, savings, or 401k. Unless I'm really dense, I can't see how this is going to affect me personally.
Unless you run your own (well off) business (And wouldn't mind seeing people's disposable incomes plummet), this means that busines will be unable to borrow money, it means that new businesses might not get created, or current ones may not expand (or just die), which in turn results to jobs not being created, or lost...
And job loss can very well be bad for you. For all I known, though, maybe you work for a block of granite, and it really doesn't matter.
