There's been a lot of press lately about the banking collapse in the US. Since everyone is aware of it I'd thought I'd post a couple of links on that theme today, the first link explains how it all came to pass: The Subprime Primer. And the second video shows a rather intelligent response to the planned bailout:
Of course, it's could only happen in the US, right? Lol. Think again. Firstly realize that Canadian banks have remained conspiciously silent on the topic - they have rules of non-disclosure, so don't have to tell us how deeply they're in this mess together. But try and figure out how within the past 10 years house prices have went up by a factor of 5 and more times. And figure out where all these home buyers got their money. Are you earning 5 times what you were 10 years ago?