The Crisis of Credit Visualized from Jonathan Jarvis on Vimeo.
Are you still unsure about the current credit crisis and how did it come about? Johnathan Jarvis has created a nicely animated visual explaination of the crisis as part of his thesis work in Media Design.
Even if you’re not interested in the cause behind the current economic crisis, it still makes an entertaining visual feast for the eyes.
Looks like the economy is going nowhere now. Embattled bank, American Insurance Group (AIG) yesterday posted a $62 billion quarterly loss, just after receiving a $30 billion bailout from the U.S Treasury ontop of its $150 billion it has already received.
This pushed the Dow Jones to fall below its 12-year low of 7000 points and KBW financial sector index to fall by 5.4%. The bleak news couldn’t come at a worst time as even legendary Omaha investor, Warren Buffet’s highly conservative Berkshire Hathaway posted a 98% decrease in fourth-quarter net income to $117 million and a 9.6% drop in Book value per share.
The continuous stream of bad news begs the question, “So how far will the rabbit hole go?”
A SECOND group of Lehman Minibond investors has announced plans to take the distributors and trustee of the failed product to court.
The investors – they call themselves the Minibond Investors Action Group or MIAG – appears to be larger than a 250-strong group that threatened legal action last week.
It also appears to have a more concrete legal strategy.
The organisers hope to get about 1,000 investors to commit between $2,000 to $3,000 each for a $2.5 million warchest that will fund court action, possibly in May, against the various Minibond distributors and and the products’ trustee, HSBC Trustee.
