Joe did a great set of videos explaining the financial crisis including what led up to it and who is to blame. We filmed this one before but I hear it was pretty boring and had bad lighting. So we refilmed it and here it is. We got some professional lights thanks to Steph! Joe also went to a thrift store and got some props. My personal favorite is the Napoleon bobble head - I love Joe’s smile when he uses it it’s like he’s ready to start laughing.
Joe talks about the savings & loan crisis and the bailout that the government did back in the 1980’s, about the creation of Freddie Mac & Fannie Mae, what a subprime mortgage is, a bank’s balance sheet and how they become insolvent or bankrupt. That’s in the first video Financial Crisis: Freddie, Fannie & Subprime.
Let me know what you think, do you like this one better? Are there other questions that you would like to have answered?
The second video is about Who is to Blame, Joe walks through the entire process of a loan and what happens and then lists out who he feels is to blame…and there’s plenty of that to go around.