Why did the Mortgage Crisis Happen?

The financial world looks a lot different than it did one year ago. Around that time, the mortgage crisis was just sinking its teeth into the global economy. Now we're seeing a dramatic result of the crisis almost every day.

What caused the mortgage crisis? It's hard to remember how we got here with the turmoil and noise from Washington and financial markets. The mortgage crisis is a result of too much borrowing and flawed financial modeling. Mix in some fraud and greed, and you've got problems.

It's impossible to predict when or how the turmoil will end, but it's useful to remember how it started. See what caused the mortgage crisis as you watch it unfold.