Comments on: What Happened to Our Economy – In Plain English

By: Amy @ Finer Things

Amy @ Finer Things — Sun, 01 Mar 2009 19:04:47 +0000

I followed this link from my guest post at Homemaker Barbi. Very good info. Thanks for sharing! Amy

By: ina

ina — Fri, 27 Feb 2009 13:14:52 +0000

Thanks Shellie- I passed this on to my friends who seem to be walking around in a fog, grasping for an explanation to this disaster.

By: melissa

melissa — Thu, 26 Feb 2009 20:04:01 +0000

Great post.

And also — it’s not just when people lie on their mortgage applications when people get in over their heads. When we applied for a loan for our house, they quoted us some crazy high figure for the house we were able to afford — the amount we were approved for. There’s no way we would have been able to afford that… and we bought a house $35,000 under what they quoted us, and it was STILL a stretch some months.

I have no idea on how they got to their numbers.

By: jan

jan — Thu, 26 Feb 2009 19:28:56 +0000

Good read. For any of your readers that want a visual to back what you have shared, I recommend watching the Crisis of Credit Visualized video. It’s 11 minutes long but another helpful tool to understanding all this. http://www.crisisofcredit.com/

By: Lindsey

Lindsey — Thu, 26 Feb 2009 19:02:25 +0000

Shellie, thanks!!!

By: Chris from St. Mary's

Chris from St. Mary's — Thu, 26 Feb 2009 18:51:31 +0000

I am out of debt now, but am scared to put any money into mutual funds and even the interest rates on Internet banks are blah.

Although, they are much better than my old bank that’s “too big to fail” that I left last summer. I just read that their interest rate for savings is 0.01%. Yes. It makes even my credit union’s 0.3% look really good.

By: Susan

Susan — Thu, 26 Feb 2009 15:12:00 +0000

Wow Shellie. This was really helpful. Thanks for spelling it out in such a reader friendly format.