Financial Markets Explained

Posted on November 12, 2007 by Michael Froomkin

This is one of the finest explanations I've ever seen of the sub-prime crisis, and of market volatility in general:

This really is excellent. Very highly recommended even if you are not an investor.

(spotted via Calculated Risk)

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One Response to Financial Markets Explained

  1. seth edenbaum says:
    November 13, 2007 at 8:32 pm

    “unemployed black man siting on a crumbling porch somewhere in Alabama…”

    And what’s wrng with this picture?

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