Explaining the Financial Meltdown

From the recent economic writings on the financial meltdown, it is clear that no one fully understands exactly what went wrong, why it went wrong, and the best strategy for dealing with the problem. If you are like me, you have been hesitate to try and explain it to students because you do not have the time to invest in trying to undestand the problem and developing lecture notes.

This investment of time just got smaller. Before today I had never heard of the Milken Institute, but at this site they have posted a superb video and and set of slides explaining the recent financial problems.

After visiting this site, I may change my mind about discussing it with students.

HT: Carpe Diem