CDO,CDS,mortgages,securitization,financial crisis Just this Once: The Long Johns explain the credit crunch

Just this Once: The Long Johns explain the credit crunch

posted by wagdog 1 year 2 weeks ago • 622 views

tags: CDO, CDS, mortgages, securitization, financial crisis

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A clip from Bremner, Bird and Fortune - Silly Money (aired 2 Nov, 2008, Channel 4, UK)

John Bird and John Fortune perform a hilarious sketch that is surprisingly accurate in explaning how mortgages were securitized (Mortgage Backed Securities), bundled up into Collateralized Debt Obligations (CDO), insured against default with Credit Default Swaps (CDS), all of which eventually created a giant unsustainable bubble in the world economy, all because the participants thought it could go on and on.

If you enjoyed this explanation, then please be sure to watch the conclusion for the ultimate punchline: http://www.youtube.com/watch?v=mHGbsOThuyM

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you will say now communist system is worse? you laugh at corruption of soviet union?

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For the latter tip, check their comments section. Link. ]]></description> <content:encoded><![CDATA[<p><img class="aligncenter size-medium wp-image-27741" title="01_lightbulb_112309" src="http://www.neatorama.com/wp-content/uploads/2009/11/01_lightbulb_112309-500x338.jpg" alt="01_lightbulb_112309" width="500" height="338" />Instructables has connections to instructions on how to <a href="http://www.teamdroid.com/diy-hollow-out-a-light-bulb/">hollow out</a> a light bulb, cleaning the kaolin powder off and making planters and terrariums out of them! For the latter tip, check their comments section. <a href="http://www.instructables.com/id/Reusing-Lightbulbs-as-planters-or-mini-terrariums/">Link</a>.</p> <div class="feedflare"> <a href="http://feeds.feedburner.com/~ff/Neatorama?a=MRSD_oAk6mc:aBfktllvnZU:yIl2AUoC8zA"><img src="http://feeds.feedburner.com/~ff/Neatorama?d=yIl2AUoC8zA" border="0"></img></a> </div>]]></content:encoded> <wfw:commentRss>http://www.neatorama.com/2009/11/24/make-terrariums-planters-from-light-bulbs/feed/</wfw:commentRss> <slash:comments>3</slash:comments> <feedburner:origLink>http://www.neatorama.com/2009/11/24/make-terrariums-planters-from-light-bulbs/</feedburner:origLink></item> <item> <title>The World’s Most Luxurious Airlines</a></li></ul></div> <script> var ls=gebtn('a',gebi('ff-nor')); for(var i=0;i<ls.length;++i) ls[i].onclick=function(){if(typeof urchinTracker=='function')urchinTracker('/ff-redirect/nor/'+escape(this.href));} </script> <div class="panel lolite"><div class="title">Subscribe</div><div class="buffer"><a href="http://www.videosift.com/rss2/sifted.xml"> <img src="http://static1.videosift.com/cdm/feed.png" alt="" /> Sifted Videos</a></div><div class="buffer"><a href="http://www.videosift.com/rss2/unsifted.xml"> <img src="http://static1.videosift.com/cdm/feed.png" alt="" /> Unsifted Videos</a></div><div class="buffer"><a href="http://www.videosift.com/rss2/talk.xml"> <img src="http://static1.videosift.com/cdm/feed.png" alt="" /> Sift Talk Posts</a></div><div class="buffer"><a href="http://www.videosift.com/rss2/comments.xml"> <img src="http://static1.videosift.com/cdm/feed.png" alt="" /> All Member Comments</a></div><br/><div class="buffer"><a href="/video/What-is-this-RSS-Thing-and-How-Do-I-Use-It">» What is this RSS thing?</a></div></div><div class="panel lolite"><div class="title">Top 15 Sifters of All Time</div><div class="buffer"><div class="pad">1. <a href="http://zifnab.videosift.com" title="member since June 30th, 2006" class="profilelink"><strong style="color:#B22222">Zifnab</strong></a><a href="/faq-en.php#star_ratings"><img src="http://static1.videosift.com/cdm/stars/01000.png" class="star" title="Ranked #1 - 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