Just discovered a great resource on YouTube -- Knowledge@Wharton has a channel there. See this video on the sub-prime crisis:
To add to the video, I have also heard that once the sub-prime crisis started making its presence felt, the prices of the homes the sub-prime borrowers had bought fell and they realized that the amount they would pay was lower than what they would get by selling the houses. That only precipitated the crisis.
There are more interesting videos on the channel, including this one -- an interview with Sunil Mittal where he talks about entrepreneurship and his beginnings in the bicycle industry.
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2 days ago