Men jeg læste en ganske god opsumering af baggrunden for krisen af Hale Stewart:
1.) Incomes shrank for most Americans over the last expansion.
2.) But Americans kept spending thanks to a mammoth increase in household debt.
3.) To increase the amount of debt in the system, lending standards were lowered.
4.) Lowered lending standards have led to a higher default rate from borrowers.
5.) Higher default rates have lowered the value of all the collateral backed by mortgages.
6.) Lowered collateral values have killed the balance sheets of literally every major financial company.
Og helt ærligt - det er da logik for økonomer!