The last one out of Cleveland please turn off the lights.

Australian ABC Show, 4corners did a show on the Sub-Prime meltdown in the US and it’s excellent.

subprime meltdown news report

You have to watch it on their website, I could not embed it, click here.

This video explains how the sub-prime market was created through a unique set of circumstances beginning with the fallout from September 11, and goes on to talk about the risk of recession this poses, to the US economy and the worldwide ripple effect that would cause.