Substack

Tuesday, December 30, 2008

Sub-prime crisis explained

The wizards of Wall Street brew the "sub-prime" broth...



The broth finally boils over...



Meanwhile, after a futile search for WMD in Iraq, the Bush administration finally realized they were looking at the wrong place...



After the WMDs implode, comes the bill...



Unable to foot the bill, the "bread lines" start to form ...



Since those impoverished are "too big to fail", the Government steps in ...



Hanky Panky is given a blank cheque...



To be encashed from the tax payers account...



"Helicopter" Ben and the Fed are not to be left behind...



Bailout ATMs make their appearance...



Public debt mounts ...



Joe Six-pack groans...



The epitaph is written...



And the wheel turns the full circle - circa 1917...



Or... business as usual?



More of these can be seen here and here. An excellent cartoon primer on the crisis can be seen here.