This latest post is a quick aside to our regular personal finance topics.
I'm sure a lot of you followers have heard about the 2008 financial meltdown and the resulting recession. While you may have heard of terms like 'sub-prime mortgages', 'credit defaults', 'collateralized debt obligations', etc. - a lot of people are a bit confused about what actually happened that caused the financial market meltdown.
There is a short video I saw at http://crisisofcredit.com/ that explains exactly what happened in a simplified, entertaining, and remarkably accurate way. This video is also crucial in understanding the current fraud allegations against the most reputable banking firm in the world, Goldman Sachs. Check it out, and then maybe you can impress your family/friends about your knowledge of the financial meltdown, and the reason why it's so hard to find a job these days!
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