Welcome

Hi All. As we take a step back and begin to absorb the roller coaster that began in 2007, many questions come to mind. How did our financial system, arguably the most resilient in the world, collapse at such a record pace? What caused the credit crisis and why does what happen on Wall Street affect what happens on Main Street? Is the crisis finally past, and what have we now learned from it?

The annals of history may not remember the exhaustive details: The fed funds target rate is currently 0 – 0.25% (what's the fed funds rate?). More than one hundred banks have failed so far in 2009 (who cares?). Nevertheless, let's gather up the broken fragments of the past two years and construct a mosaic of what transpired. I hope to use these pages to give a simple, informative and enlightening view of our economy and current events in the financial markets.