The Financial Crisis Explained: Subprime Mortgage

The Liberty Option Documentary Film : A blow by blow explanation of how the Subprime Mortgage Crisis of 2007 unfolded. This set of events ultimately lead to the Global Financial Crisis of 2008 Subprime lenders (like Countryside) sold the loans to banks (non-depository banks, like Lehman Brothers) so that they could replenish their reserves (so mortgage lenders could keep lending). Investment banks like Lehman brothers took the crappy mortgages and paid rating agencies to AAA or BBB stamp them while hiding the really crappy mortgage loans off their books)=. These investment banks then bundled up these mortgages and sold them to investors (companies, commercial banks, etc)