Comments on: ‘This American Life’ on the Global Credit Crisis

Comments on: ‘This American Life’ on the Global Credit Crisis http://tomchappell.com/blog/2008/05/this-american-life-explains-the-sub-prime-mortgage-blowout.html Yet Another Media Spotlight Sat, 19 May 2012 05:15:40 +0000 http://wordpress.org/?v=2.6.5 By: Tom Chappell http://tomchappell.com/blog/2008/05/this-american-life-explains-the-sub-prime-mortgage-blowout.html#comment-931 Tom Chappell Wed, 02 Jul 2008 06:47:55 +0000 http://tomchappell.com/blog/2008/05/this-american-life-explains-the-sub-prime-mortgage-blowout.html#comment-931 Stand by for Phase 3 of the Credit Crisis: it wasn't only mortgages, but also credit card debt, that was sliced and diced into tranches of CDO's. Talk about being under water; credit card debt has zero equity. Stand by for Phase 3 of the Credit Crisis: it wasn’t only mortgages, but also credit card debt, that was sliced and diced into tranches of CDO’s.

Talk about being under water; credit card debt has zero equity.

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