Given the continuing global credit crisis I was reminded of this visualised presentation by Jonathan Jarvis. When I last looked it had received over 1 million hits for Part 1 and over 1/2 million for Part 2 – an interesting statistic re attention spans and/or the usefulness of the video? I have shown the combined (and shorter) version because I find the continuous flow of the presentation helpful. But if you want to view of Part 1 simply click on www.crisisofcredit.com. Enjoy!
Professor Ian Harper of Deloitte Access Economics lists the key players and a brief summary comment to assist thinking through the issues raised by the video presentation of the GFC,
Who were the key players at fault?
§Chinese savers?
§US consumers?
§US Federal Reserve?
§Investment banks?
§Commercial banks?
§Mortgage brokers?
§Home borrowers?
§Bank regulators?
Summary
The GFC has underlying economic causes which were blown out of proportion by greed, arrogance and indifference
Governments have no choice but to bail out institutions which are ‘too big to fail’
Regulations imposed on banks and other lenders are being tightened
But new laws cannot make us behave morally
Also by Prof Ian Harper, GFC and trust and The Global Financial Crisis: our response as Christians
