US subprime mortgage crisis made easy.

So the fascination continues. I'd have jumped on the commerce degree bandwagon if not for my ineptitude with numbers.

I was attempting to understand the 700b proposal since the presidential debate. The workings of the US financial system is not something you can grasp in one week, let alone one day. Where do you start with these things? Turning to Wikipedia ended up in me getting bombarded with more jargon because of the detailed nature of that site. It was a cycle in which I couldn't pinpoint the exact origin; understanding Fannie Mae/Freddie Mac required understanding of subprime loans, and these in turn required understanding of existence of mortgage-backed securities, etc, you get what I mean.

But then I found this.

3 tutorials on The Subprime Mortgage Crisis by InformedTrades.com
The first video explains it from the borrower's point of view, the second the lender and the third how the crisis came to be. Its for anyone who's trying to make sense of it all because I know how frustrating it is and I think the video's brilliant. Enjoy.

Part 1

Part 2

Part 3


And a cartoon.