Some figures

Statistics on the deposits protection in different countries :
http://www.oecd.org/site/0,3407,en_21571361_41390497_1_1_1_1_1,00&&en-USS_01DBC.html

I've found an interesting document from the OECD too. It mainly deals with the size of the crisis but also with some of the options that governments have to try handle it.
http://www.oecd.org/dataoecd/36/27/40451721.pdf

Icesave bank goes down

Hope all your money isn't in this bank !

http://www.icesave.co.uk/

Things getting low

Came accross this picture on lemonde.fr. Found it funny to see this guy with the curve on his screen going deep down.

Foreclosures in the US

Here is some interesting figures about the number of foreclosures in the US, in different states and cities nationwide :

http://www.realtytrac.com/ContentManagement/pressrelease.aspx?ChannelID=9&ItemID=4891&accnt=64847

What's left to do ?

We have quite a bit of information. This article is just to summarize what we've done and what's left to do.

What we have :
- Origine of crisis
- How it spread around the financial markets (limit technical aspects)
- Consequences of subprime crisis are still coming up everyday
- The financial crisis will end up by causing an economic crisis that may last a while

What we would like to do :
- Start writing the presentation in english
- Get in touch with american people to see how the crisis affected their everyday life
- Contact Mr Rochet and Mr Seabright, both teach at the economic university of Toulouse
- Get some interesting figures to illustrate important issues of the crisis
- Continue the wiki, eventually write the article on our wiki-page


What we hope to do :
- Make our presentation interesting, entertaining and easy to understand
- Store all the information we have on either the blog or the wiki so that anybody can read our work

By next week, we will have started to store some figures on the wiki and write an article on how the crisis started.

Wiki

I just created a wiki on wikispaces, the adress is :

http://ienac-subprime.pbwiki.com

I think we should mainly fill it with the word list we are asked to do.

Here is an interesting video

Have you seen this video?

Joseph Stiglitz on the Fall of Lehman Brothers

Subprime for dummies

Here is a funny and easy-to-understand slideshow on what the subprimes loans are. Enjoy !

http://docs.google.com/TeamPresent?revision=_latest&fs=true&docID=ddv7hj34_03774hsc7&skipauth=true

I made you a short summary if you are too lazy to read it :
1) Mortgage brokers lended money to people who really couldn't afford it (unstable job, no downpayment), based on the expected eternal growth of the US housing market;
2) The banks (which are not the mortgage brokers), know these loans are shitty, so they sell them to the "smart guys" in NY for them to solve the problem;
3) To be continued ...


And here is a map showing where such loans were most prevalent :

http://www.nytimes.com/interactive/2007/11/03/weekinreview/20071103_SUBPRIME_GRAPHIC.html#

Lancement du blog.

Voilà les lectures intéressantes de cette semaine :

http://en.wikipedia.org/wiki/Subprime_mortgage_crisis
http://news.bbc.co.uk/2/hi/business/7073131.stm
Le Monde Economie du Mardi 16 Septembre et notamment l'analyse de Paul Seabright, chercheur de l'école d'économie de Toulouse.