The credit crisis demystified

Wherein it is explained how an unemployment man sitting on a stoop morphs into a Structured Investment Vehicle worth $100 million. Oh wait, it was worth $100 million, then it wasn’t, now no one has a clue what actually it’s worth. Truly, our modern-day financial alchemy is wondrous indeed.

Watch the video. 8 minutes of humor that explains what’s happening better than many a lengthy article.

Tip: Calculated Risk