Today's a really good day for cartoons about the financial markets.

[randomness]

Not only is this funny, it's not half bad as an explanation of what happened.



Edit: Now you can get the whole slide show simply by clicking on the image. Enjoy!

Comments

[meepodeekin.livejournal.com]

Hilarious! I'll never forget how, when we were buying our house, the mortgage broker told us she could easily approve us for a mortgage of 10 times our salary "without stretching" and more if we really needed it. Needless to say, we didn't take her up on her offer, and I am thankful every day that we were so circumspect in our expectation of what we could afford.

[r-ness.livejournal.com]

The whole slide show is a riot.

I love the bit where the accountant says: "Blow me."

[sensesurfer.livejournal.com]

Brilliant!

[meepodeekin.livejournal.com]

Couldn't get the slide show on this computer. I'll try later.

[sukitawdry.livejournal.com]

bravo! Thanks for showing it to me.

[mangosteen]

That is exceedingly well done.

[ravenzanne.livejournal.com]

Having once worked for a "wagon-marketed" banking entity circa 2000 - 2003 when subprime lending first hit the fan - I can attest that this cartoon pretty much has it down. It was all about volume of originations - not whether the borrower could pay. Mortgage & finance units, when questioned internally as to whether this was a good idea, would take a line of how they were providing a vital resource to low income borrowers by making this credit accessible. It wasn't fun trying to spin this into a community development talking point.

[meepodeekin.livejournal.com]

Yep, that was a classic. Thanks for posting it!

[bikergeek.livejournal.com]

OMG genius. (here via sensesurfer, by way of reply to this entry (http://bikergeek.livejournal.com/690949.html))