Casey Research investment analysts unveiled a new report "The Crisis in Pictures" complete with easy-to-read charts and graphs, that outline the origins and swift collapse of the housing market, the credit market and financial institutions once regarded as "too big to fail."

"The purpose of this report is to put the current turmoil into perspective and to communicate the most salient cause and effect relationships that have brought us to this point. The scope of the problem is wide and complicated. This report puts events in focus," said Olivier Garret, CEO of Casey Research.

"The crisis that we predicted more than four years ago is upon us and seems to be getting worse. In order to preserve their savings and to build future wealth, investors need to be armed with the reasons for this economic turbulence," said Mr. Garret.

Some of the key points of the report include:

- The Government Ran Up Sizable Deficits: The U.S. budget has run up deficits in 30 out of the last 35 years.

- Mortgages Started to Default at Record Levels: So many borrowers defaulted that investment performance began to fall outside of predictions.

- The Federal Reserve Traded Secure Treasuries for Loans Too Toxic to Be Held By the Original Lenders: If this trend continues, the Fed's balance sheet will be degraded.

- The Federal Reserve Used Billions of Dollars to Prop Up Private Banks: This is an unprecedented and unintended power of the Fed.

- As Loans Lost Values, Banks like Wachovia and IndyMac fell: As more people defaulted on mortgages, the value of mortgage-backed securities was called into question.