Edgeumacation

I know its not often I post something completely educational, but this one I think is worth it simple because how elegantly they describe something we've all heard about, but most know little to nothing about.


Sub Prime Mortgage "craptastic"

Now, you'd think I'd link to some US Company or News Corp... but they, like just about everyone else in the US either know exactly what's wrong and will explain it in perfect financial terms that 0.001% of people understand, or they also have no clue and are just screaming "omg omg omg omg"

So, I give you the BBC. Thank god the British can do something right. (And yes, there's lots of pretty pictures)

http://news.bbc.co.uk/2/hi/business/7073131.stm?src=rss

Two very interesting sections is the 1st and 3rd. Make sure to check the box "how it all went wrong", and on the 3rd, the true correlation between sub-prime - blacks and foreclosures.

Enjoy your edgeumaction.