Let Me Explain--No, It Is Too Much. Let Me Sum Up:

[lwood]

Heh--I've used that one before, I see. But no matter!

Herewith, courtesy of thorswitch who passed 'em along to me, simple plain language explanations of the Lehman Brothers and AIG cockups.

By the by, my bank wants me to know that they had no part in the subprime mess, and would like everyone to know that they don't suck. I want you all to know that, because they deserve your money for sundry non-sucky reasons.

-- Lorrie

Comments

[bellacrow.livejournal.com]

whoa, that all made sense, I dont know who deBarres is, but if I had a kid with him I could be assured it would be smart!(er than me)

[keristor.livejournal.com]

Those descriptions make sense, a lot more than I've had from the news reports (even so-called "in-depth" ones).

Unfortunately one of my banks (the one which has my mortgage and tax-free savings account) has just run into trouble and is being taken over (if the government override the competition rules, which is likely for the same reason as the US government has intervened). I /think/ that means that my money is safe for the moment, and the bank which is (probably) taking over is one I think is good.