Mortgage Melt Down Video

PBS has a very well done video piece on the Mortgage Crisis. You can check out the video here.

The Synopsis:
This week, NOW travels to North Minneapolis to investigate the mortgage meltdown that has left the city scarred with boarded-up and abandoned houses. What’s happened in communities like this one has investors everywhere shaken. Wall Street firms are stumbling and markets around the globe are nervous. Economists worry the mortgage bust may lead to a recession.

NOW connects the dots to see the extent to which recklessness, corruption and greed created this subprime mess that now threatens to undermine our entire economy. David Brancaccio talks to Rep. Keith Ellison, who grew up in North Minneapolis and who has pushed legislation to address the crisis. He also talks to Ameriquest whistleblower Mark Bomchill, who explains the competitive “boiler room” culture that encouraged brokers to aggressively push mortgage products they knew clients would be unable to repay.

Related posts:

1. 5 minute wrap up of 2008 financial melt down This video is 5 minutes long but sums up 2008 very well. BTW at 1:30 in the video Greenspan states...
2. Crisis of Credit Visualized – Video Great video by Jonathan Jarvis. He lays out the housing crisis in a very simple but cleaver way. Enjoy. The...
3. Anyone See 60 Minutes Mortgage Meltdown Video? 60 minutes did a story on the next wave of defaults coming in 2009 and 2010. ALT-A and “pick a...