rocket finance

The credit crisis video

The Crisis of Credit Visualized from Jonathan Jarvis on Vimeo.

This video about our current economic crisis has been bouncing around the internet for quite some time. I think it is a good video for the most part – certainly well edited, includes good graphics, and communicates clearly. I would love to see an supplemental video in the same style that details more of the government involvement in the crisis – the unnaturally low interest rates put in place by the Fed were included in the above documentary, but I would like to see greater detail about the activities of  Congressmen Chris Dodd and Barney Frank, how the government pressured banks to make more subprime loans and the corruption at Fannie Mae and Freddie Mac.

I also think that we also need a national discussion about why the government is now pouring billions of dollars into institutions that are poorly run. The fact is that we have many banks that are still solvent. If our government is going to invest taxpayer money in propping up our financial system, it should be  to make the good banks stronger.

It is a tough pill, but weak, poorly run banks should be allowed to fall by the wayside.