Summary: Before and After

 The reason I'm writing this post is because our English professor gave us the assignment to write a summary on this video: 

https://www.youtube.com/watch?v=bx_LWm6_6tA

When I first watched the video I was relieved, because even though it is a topic I know nothing about, its explained in a simple way and easy to understand. My first big problem when I was writing the summary was to include only the important information. I wasn't sure if I included everything or if i have left something important out. The second problem was the length. I had way too many words and I had to read through my text several times to figure out how to shorten it. 
So when the time came to show the summary to my professor I wasn't really sure what to think. As it turned out: overall it was actually a good summary and I was really surprised. There were of course some minor things that I had to correct but otherwise it was okay. However, I did make a huge mistake and because of that mistake I got a lower grade - I forgot to spell check !! I mean who does that? Or better yet, who doesn't spell-check.? Normally I do but this time I somehow forgot and the result was a lower grade. But the upside is that it is a mistake that I can easily fix. 

So what did I learn from this "before and after" experience? ALWAYS spell check even if it is the most basic word like because ( yes I didn't spell that right ) and also that writing summaries isn't actually that hard I just have to practice how to do it in 90 minutes and that is probably the hardest part.  

Here is the final version of my summary:

The video “The crisis of credit visualized”  aims to explain the reasons for the 2008 credit crisis.

Years ago investors were looking for a better investment than treasury funds because interest rates were drastically lowered, which lead to an abundance of cheap credit. This led to leverage- the reliance on using credit to increase profit. Wall Street used this idea to connect investors to homeowners using mortgages as a source of income. At this point the mortgages were divided into three categories: safe, okay and risky and this is called CDO- Collateral debt obligation. The safe- labelled mortgages were additionally insured via CDS- Credit Default Swap. This system allowed a constant money flow between homeowners, banks and investors and the market boomed.

The credit crisis occurred because mortgages were given to low-income families, who after time failed to pay off their mortgages, and the houses were repossessed. Eventually the CDO stopped and there were too many houses on the market and because of that house prices started decreasing.  At that point everyone started going bankrupt because even the financially-stable homeowners left their houses rather than pay for an overpriced house. Therefore the money flow stopped and the market crashed.

If you think there is still something to improve, I will be grateful for your suggestions :)

 And I guess the moral of my blog post is: never forget to spell check ;)