The Crisis of Credit Visualized – Part 2
October 21st, 2009 | by admin |
The Short and Simple Story of the Credit Crisis.
By Jonathan Jarvis.
Crisisofcredit.com
The goal of giving form to a complex situation like the credit crisis is to quickly supply the essence of the situation to those unfamiliar and uninitiated. This project was completed as part of my thesis work in the Media Design Program, a graduate studio at the Art Center College of Design in Pasadena, California.
For more on my broader thesis work exploring the use of new media to make sense of a increasingly complex world, visit jonathanjarvis.com
Or email me at jonathan.jarvis@gmail.com
Support the project! Buy a T-Shirt!
cafepress.com/crisisofcredit
Duration : 0:3:44
25 Responses to “The Crisis of Credit Visualized – Part 2”
By nellichka on Oct 21, 2009 | Reply
needs a part 3 to …
needs a part 3 to describe the hedge funds, the rating companies, the triple AAA ratings and the Credit Default Swaps. I’m just sayin…
By mikeseattlewa on Oct 21, 2009 | Reply
Any guesses what …
Any guesses what day.. exactly what day wall street pulled out of sub-prime mtgs?!!? You’d be wrong… it was dec 7th 2006. I was there… And the defaults of subprime hadn’t hit main street yet. So did main street create the mess, or did wall street do it? I think the answer is obvious and something’s not right here. The subprime market.. worked! It was only when wall street pulled out that did stopped working. We need to ask ourselves, why did they pull out? Something just doesnt add up!
By FreedomLiberty21 on Oct 21, 2009 | Reply
so we’re fucked, …
so we’re fucked, right?
By ghuegel on Oct 21, 2009 | Reply
If you’re …
If you’re benefiting from compound interest, then you’re a lender, at least indirectly. The reason the bank can pay you interest is that they loan your money to people, who pay interest to the bank… and the bank pays you from it.
By ghuegel on Oct 21, 2009 | Reply
And vice versa.
And vice versa.
By pr0gm3r on Oct 21, 2009 | Reply
The banker never …
The banker never said sorry. That is Capitalism; Never say “Sorry”
By FabbioDiNinno83 on Oct 21, 2009 | Reply
what is the name of …
what is the name of the music at the video’s end?
By FabbioDiNinno83 on Oct 21, 2009 | Reply
this video is …
this video is amazing and music too!!! compliment
By drinkynz on Oct 21, 2009 | Reply
and things get dark …
and things get dark…..
By jvg83 on Oct 21, 2009 | Reply
Also pensionfunds …
Also pensionfunds were buying the “safe” tranche of the CDO, because they have money that they want to invest long term.
So homeowners aka Joe the plumber have been paying into their pension, which has been invested by the pension fund. And now the pension fund has to tell Joe the plumber that they lost a bunch of money on their investments i.e. that a large part of his pension money has evaporated.
By mahkid1 on Oct 21, 2009 | Reply
Because many …
Because many homeowners (although apparently not yourself) invest through fund managers. Assume the fund manager invests only into CDOs. Enter the financial crisis…. The fund manager (called ‘the investor’ in the video) has to call the home owner to tell them that their investments aren’t worth anything anymore.
By stonecoldglen18 on Oct 21, 2009 | Reply
amazing, thanks for …
amazing, thanks for the video
By bif2212 on Oct 21, 2009 | Reply
the investor …
the investor informs home owner that his house isnt worth anything.
By koollikeKenickie on Oct 21, 2009 | Reply
This video explains …
This video explains how main street suffers from wall streets greed.
By ANTIDALLARD on Oct 21, 2009 | Reply
Thanks for the …
Thanks for the simple straight forward tutorial. I didnt quite catch the end, tho. Why did the investor contact the homeowner? I’m a homeowner, and I dont have any dealings with any investors.I bought my house twelve yrs ago, I just pay my mortgage as usual.
By jvg83 on Oct 21, 2009 | Reply
No, their mortgage …
No, their mortgage contract is set up so that if they do not pay, they trade their house for the amount of the loan.
In the example they have a loan of 300,000 on the house and its only worth 90,000. If they walk away from the house, they don’t have to pay the 300,000 back and all they have to do is give the bank their 90,000 house. Basically they can pay a 300,000 dollar debt with 90,000. Then they go buy a house somewhere down the street and get a new mortgage of only 90,000
By Spadine on Oct 21, 2009 | Reply
Still, americans …
Still, americans fault. Maybe not every american, still americans.
By ADHemingway on Oct 21, 2009 | Reply
this video is …
this video is amazing. i wish everything i ever learn is explained to me just like this. question though, what happens to the homeowners who have been foreclosed on, forsaken, etc. where are they going not that they’ve lost their houses? if there are so many of them, shouldn’t there be scores of homeless families around everywhere?
By snetpux on Oct 21, 2009 | Reply
Greed!!!
Greed!!!
By druusky on Oct 21, 2009 | Reply
I agree, but I dont …
I agree, but I dont blame it on Americans, but in some people that control the country (Im not talking about the president), Americans just have to go with it if they have no choise
By XrAiDeN on Oct 21, 2009 | Reply
That´s how most of …
That´s how most of us Europeans live, we have always frowned upon Americans living like they do ´on the creditcard´. Not that we´re not in the but we actually save money over here. I bet we will ride this crisis out more easily than our American friends.
By happychap75 on Oct 21, 2009 | Reply
woah thanks man …
woah thanks man great help
By LuizAndres86 on Oct 21, 2009 | Reply
i still don`t get …
i still don`t get some things (may be becouse I have to practice my English a little bit more) but it has given me the big picture. thanks
By badoet on Oct 21, 2009 | Reply
best ever! should …
best ever! should have more of this kind of videos for other genre (:
By springfieldcolors on Oct 21, 2009 | Reply
amazingly simple to …
amazingly simple to understand !!!!! Great Job Done !!!!