NPR's Planet Money produces an astounding infographic that shows just how bad a bet the banks made when they went crazy for bundles of subprime mortgages.
Toxic assets brought our economy to its knees. You remember those, right? They were bundles of sub-prime mortgages, which were sold to banks like bonds. As the bundled mortgages were paid off each month, they promised a steady portion of the cash.
For the banks that bought these assets, the problems began when people couldn't pay the...
Published on March 12, 2010 09:03