The Crisis of Credit Visualized

Very well done animation on the credit crisis:

The Crisis of Credit Visualized from Jonathan Jarvis on Vimeo.

via Planet Money

Consumer Credit Counseling Service to Offer Free Debt Counseling

The Consumer Credit Counseling Service ( CCCS ) is a non-profit founded in Fort Wayne, Indiana. Starting today, September 22, the CCCS will offer free . . . more

A Silver Lining?

One of the possible upsides of this crisis is that we might once again have a reasonable national savings rate. As recently as three years ago we were, as a country, spending more than 100% of our income. The ensuing credit bubble, fed in no small part by ballooning home prices, was a big factor in EconoShitstorm '08. Check out the graph below for perspective on historical personal savings rates:



Sometimes an existential crisis is required for us to make fundamental changes as a society.

Via Planet Money.

From the Goofy Acronyms News Desk

Introducing TALF: the Term Asset-Backed Securities Loan Facility.

What's another few hundred billion bucks to use the crash cart on the flatlined credit markets? Seems like chump change these days.