PBS Feature on Moral Hazards in the Mortgage Market
Saturday, July 19, 2008
PBS released an 11 minute and 38 second video about moral hazards in the mortgage market.
IndyMac Bank was recently seized by Federal regulators, who are doing everthing in their power to prevent over-leveraged mortgage companies Fannie Mae and Freddie Mac from failing.
This parody Bird & Fortune Financial Adviser video really captures the essense of the modern banking system.
The subprime mortgage crisis was also covered in this funny but curt slideshow titled The Subprime Primer.
According to a BBC interview with Citigroup’s CEO Sir Win Bischoff, house prices in the UK and the US are likely to fall for another two years…but then again, they are part of the same banking system that never saw the initial collapse coming.