EVERYTHING you need to understand the economic crisis
Okay, forget my last post. It is a good primer but it makes everything seem deceptively rosy if you don't know how the one piece it talks about fits into the broader picture.
What you need is a crash course on finance and then a specific discussion on where we are today and exactly how Paulson's plan would affect the situation.
A friend and former co-worker of mine, Sal Khan, has posted a series of absolutely brilliant videos that do exactly that. Start here:
Bailout 1: Liquidity vs. Solvency
The first videos step you through the necessary finance background. They do take some time to go through, but they're well worth it if you really want to understand what's going on at a deep level.
If you're already strong on finance, skip ahead to part 8:
Bailout 8: Systemic Risk
Or jump to his analysis of the Paulson Plan (though it may be a little harder to follow if you haven't seen the previous installments):
Bailout 9: Paulson's Plan
I cannot stress enough how IMMENSELY helpful and informative Sal's presentations are. I feel like I've just gone through a Finance MBA program and now I have a really strong grasp of what's going on out there. It IS crazy-complex, but Sal does an amazing job of maintaining clarity and clearly demonstrating the risks and consequences.
I wish every member of Congress would watch Sal's presentations.
By the way, if you're dubious as to Sal's credentials, he is one of the smartest people I know and is obviously a gifted communicator and educator. He's also ridiculously over-educated:
Sal received his MBA from Harvard Business School where he was president of the student body. He also holds a Masters in electrical engineering and computer science, a BS in electrical engineering and computer science, and a BS in mathematics from MIT where he was president of the the Class of 1998.
If you find Sal's presentations helpful, please do spread the word and have others watch them. With something this mysterious and complex we absolutely have to help the public become more educated on the subject.
What you need is a crash course on finance and then a specific discussion on where we are today and exactly how Paulson's plan would affect the situation.
A friend and former co-worker of mine, Sal Khan, has posted a series of absolutely brilliant videos that do exactly that. Start here:
Bailout 1: Liquidity vs. Solvency
The first videos step you through the necessary finance background. They do take some time to go through, but they're well worth it if you really want to understand what's going on at a deep level.
If you're already strong on finance, skip ahead to part 8:
Bailout 8: Systemic Risk
Or jump to his analysis of the Paulson Plan (though it may be a little harder to follow if you haven't seen the previous installments):
Bailout 9: Paulson's Plan
I cannot stress enough how IMMENSELY helpful and informative Sal's presentations are. I feel like I've just gone through a Finance MBA program and now I have a really strong grasp of what's going on out there. It IS crazy-complex, but Sal does an amazing job of maintaining clarity and clearly demonstrating the risks and consequences.
I wish every member of Congress would watch Sal's presentations.
By the way, if you're dubious as to Sal's credentials, he is one of the smartest people I know and is obviously a gifted communicator and educator. He's also ridiculously over-educated:
Sal received his MBA from Harvard Business School where he was president of the student body. He also holds a Masters in electrical engineering and computer science, a BS in electrical engineering and computer science, and a BS in mathematics from MIT where he was president of the the Class of 1998.
If you find Sal's presentations helpful, please do spread the word and have others watch them. With something this mysterious and complex we absolutely have to help the public become more educated on the subject.
posted by banzai at 3:47 PM
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