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The Credit Crisis

by Lizzy111 on Oct 17, 2008

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crisis economica

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eduardoe Tags crisis economica 3 years ago
Jonathan Boutelle , entrepreneur CTO at SlideShare 3 years ago

The Credit Crisis — Presentation Transcript

Bob and the Repossessed House That’s Bob in his cardboard box.
There once was a man named Bob. Bob really wanted a house, but he didn’t have enough money. This is all Bob had in his account.
So, one day Bob went and got a loan from AIG.
The bank didn’t know that Bob had bad credit from other credit card companies. But they gave him the loan anyways. Bob with his new money.
The bank had been giving out these loans to people that couldn’t pay them for a while. Soon, they were giving out more money than they could get back.
So where did this leave Bob?
Bob couldn’t pay his loan and his bank went bankrupt. Bob was really sad.
There went Bob’s house.
There went the bank’s large profits.