The following clip is speeches on Understanding the Financial Crisis at UC, USA.
My opinion, the speeches are review which tells nothing new. ie. greed. and implys something new that makes the crisis the most tense ever since the Great Depression. Something new could be new tech. and new complex trick/game help build up more wealth for a small group at the expense of the general republic's well-beings.
Has anyone noticed that the RMB and the dollar held the same rate of exchange for as long as I've been watching it (almost 3 years)? It's been about 6.8 yuan to the dollar for a long time. In the same period of time the won has gone from 983 won to the dollar, to over 1500 won to the dollar, and now below 1200 won to the dollar presently. China feels it's best for it's economy to keep the dollar/yuan exchange rate where it is, and manipulates the currency markets to do so. Incidentally, this is why the get so much grief from most of the developed world (Europe, America, Japan,etc.), which feels the RMB is undervalued and places them at a disadvantage in trying to sell good internationally.
This does not effect my plans to travel to China, grab my wife and fly back to the US.
I laugh at all those banks that lent all that money to people that could not possibly afford it. Credit cards and home loans with nothing down. What the heck was the US government thinking letting something like this happen? Greed.
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