The Mortgage Meltdown
- February 25, 2009 - by Ben Goheen, in General, with no comments -
Watch how quickly the financial system collapsed
Many people still don’t understand what has happened with this economy. This PBS Frontline video explains how it went downhill so quickly and who was responsible.
Fannie Mae and Freddie Mac, the world’s largest mortgage lenders, are nationalized by the government because of fears of toxic assets. To see this part of the video, skip ahead to the 3rd section (on the video controls, click on the 3rd yellow dot)