The Financial Crisis: Explained

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Time does a really good job explaining the current financial crisis.  My favorite quote:

When greed exceeds fear, trouble follows.

Thank you, greedy bankers, for making tax payers pay for your bull shit.  As if the war wasn’t enough reason to pay taxes.  We all really appreciate it.

  • Brian Harris

    It’s not the greedy bankers’ fault, they’re just playing the game as competitively as possible. Greedy bankers are good for the economy for the same reasons as why competitive athletes are good for sports; competition raises the bar. Be upset with your government that provides an unwritten insurance policy for when a star athlete breaks their ankle. It’s a lot easier to go all out and take more risks when you know big brother is there to catch you when you fall.

  • http://goodmorningeconomics.wordpress.com jsalvati

    No offense, but you can tell when people don’t understand what’s going on when they start blaming things on “greed.”

  • http://www.alexloddengaard.com Alex Loddengaard

    Apparently I don’t know anything about finance, politics, and economics.

  • Ryan

    No, it actually is greedy bankers fault. See their’s playing the game, and theirs twisting the rules of the game. Another way to put it, for u ppl “that understands whats going on,” is that there’s blind self-interest on the one hand, and ethical behavior on the other. Bankers knew what they were doing could explode in their face and screw everyone else over. And yes, part of the problem was that they thought the government would bail them out, and in that sense the government is also to blame: for bad regulation that doesnt create the right incentives. Its the governments job to plan on worst case scenario, and thus make policies with the assumption that people are going to act greedy. However, that doesnt relieve those greedy bastards of fault.

  • Ryan

    no offense

  • http://www.alexloddengaard.com Alex Loddengaard

    Thanks for the comment, Ryan!