“Credit Crunch”, “Subprime mortgaged”, “Leverage”.. you regularly come across such complex jargon thanks to the ongoing Financial Crisis but what exactly do these terms mean? What is “Credit Crisis” and how did it happen? Why did big banks like Lehman Brothers have to go bankrupt?
The Credit Crisis Visualized
If you are not from a finance background but still like to understand the whole credit crisis, just watch the following video (animated story) that explains the entire story of the Credit Crisis in Plain English.
I found this video easier to grasp that reading a 8000 word essay on Wikipedia.