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CNBC
“House of Cards”
http://www.cnbc.com/id/28892719
Sunday March 1st 9pm (PT)
Sunday March 12 6pm (PT)
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I highly recommend watching “House of Cards“, CNBC provides a clear overview of the financial housing crisis.? You can clearly see what was cause and how it impacted not only the US housing/financial markets, but the world.?
2004 George W Bush announced the housing market was at all time highs, the economy was strong.? More American consumers were able to purchase and live the dream of home ownership.? Alan Greenspan encouraged alternative financial options for more people to be able to buy homes.? Outside of the traditional loans, subprime mortgages, option arm programs were offered.?
Wall Street continued to package mortgages and sold them to investors.? Mortgage backed securities were packaged and rated triple-A which gave buyers the impression of a safe investment.? This rating gave all buyers the sense of security even though nobody understood how they received the triple-A rating.?
Watch “House of Cards” to understand the impact on the world and who really created the mess!
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