With all the buzz going on about the collapse of Lehman Brothers, the $700 billion AIG bailout plan, and the US financial crisis and its impact on Philippine banks, the word “subprime” suddenly gained notoriety in mainstream media.
What exactly is the subprime mortgage problem?
We already discussed this concept more than a year ago (See The US Subprime Mortgage Problem – explained in simple terms), but for those looking for a simpler explanation, you’re in luck.
Here’s a Powerpoint presentation that humorously but accurately explain “subprime.”
Click here to view the Subprime 101 – A simple but funny explanation of the US Subprime Problem Powerpoint file.