Wednesday, September 17, 2008
Dealing With the Credit Crunch
Rather ironically, AIG, are still sending out a mailing list recommending people get insurance for the time 'disaster strikes'. (This is on the day, when they received a $85billion loan from the federal government in return for an 80% stake) The problem is when the insurers and supposedly reputable banks are going under , who can you get insurance from?
If the extent of bailouts, emergency loans and rescue packages has your head spinning, you may appreciate this humorous look at how the credit crisis started (courtesty of the Long Johns on BBC - video)
Posted by Tejvan Pettinger at 10:18 PM