Friday, October 10, 2008

Understand the Financial Crisis

What does it all mean?

Freddie and Fannie, Bernanke, Bush, mortgages, loans, foreclosure, $700 billion bailout, recession, crisis. These are the words filling the headlines and being tossed around in Washington and on Wall Street in worry and, yes, panic. What does it all mean?

Most of us aren't economists and aren't expected to understand what exactly is going on on Wall Street, but we all have a pretty good sense that things aren't going well and it's bound to affect our economy and eventually our homes, if it hasn't already.

It has sent economists scrambling to get the information out there, to educate those of us who aren't following the trends or the ticker tape. However, it stands to be one of the more crucial and pivotal times for the American economy; all just months before a presidential election. Those in the know promise that the more you know about it, the better the chance you have of withstanding it intact.

So let's get educated on the financial crisis before it's too late. Here's our syllabus.

This article is a wiki. If you know how to explain the financial crisis in layman's terms and can share some links to help those who don't, log in and edit this page.

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