Friday, September 13, 2013

A Brief History of the Financial Collapse

In today's Irish Times you'll find an intriguing article that dissects the cause of the recent financial panic that has landed us in the spot we're in today. That is, skint.

Written so that non-financiers can understand the complex deals, the article is fascinating and informative. And more than a little depressing, in that risky behavior that was seen as reckless on the heels of the Depression in the 1930s was allowed to flourish, as if a market collapse couldn't happen again. The story focuses largely on Lehmann Brothers, which went bankrupt and exposed the rotten core that was propping up the property market.

You may not look at financial matters the same way again, when you see how large sums of money made sensible people a bit mad.

The link is below. Go on and read it. Be informed.

Origins of the Great Recession - Economic News | Ireland & World Economy Headlines |The Irish Times - Thu, Sep 12, 2013

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