We all know very well about how runaway mortgage policies have led to banks defaulting, leading to buyouts and the eventual government bailout. Here’s a flowchart from Fair Loan Rate that shows the whole process from start to finish. You can see how this all went in a clear but simple-stated manner.
Follow the link at the bottom of this article to get to the flowchart.
In order to fully understand the dynamics and depth of current global recession, It is very important to know what led us to this crisis. I have found the illustration below very thought-provoking and useful. It helped me explain the reasons effectively.
The Reasons Behind Global Economic Crisis, written by R. MAK, from Fair Loan Rate