Explaining the Financial Crisis

Photo: Paul Hansen

"As a news cartoonist, I'm constantly looking for subjects that people are talking about, but that no one can really explain," says Johan Jarnestad, News Cartoonist at Dagens Nyheter.  "When you're working on your own projects it can be a bit of a challenge to get them published in the newspaper, but this job came straight from the financial news editors.  The goal was to 'make the financial crisis understandable!'  This, for me, was a perfect situation."

First, Johan went to work scanning the internet to gather as much background information as possible.  He then worked in close cooperation with Business Reporter Dan Lucas, who composed the introductory text while Johan illustrated.  Periodically, they compared notes and ideas.

"It actually started as two independent tracks that came together in the end.  Fortunately, the result was a complete success."

In the autumn of 2008, the collapse of the American home mortgage bubble, which was the harbinger to one of history's most devastating financial crises, was a topic on everyone's lips - even in Sweden.  But understanding the underlying causes was a different matter altogether.

"I had of course thought about the financial crisis before this job came in," Johan explains.  "I had met experienced people who worked in the financial sector, but none of them could explain what was happening.  And if they didn't know, who did?"

Johan began gathering input from many sources.  He understood that to simplify and explain a complex situation, he would need good sources of information, especially since he didn't start out understanding the subject himself.

"To be able to dive into something and gain that expertise is very exciting," he says.  "I got to withdraw myself from my usual work in order to focus on this project for two weeks, a privilege I'm sure no other newspaper in Sweden can offer its staff."

Johan chose a classic method of storytelling, allowing the reader to follow the fictional Gonzales family through the ups and downs of the American home mortgage roller coaster.

"The toughest part was to find an appropriate level of language.  Usually, I tell stories with a bit of humor, even if the subject is quite serious.  The average reader browses for about six seconds before turning the page - before this happens, you need to capture their interest."

The readers' responses were instantaneous and unequivocal.  Johan's inbox was flooded with e-mails, all saying the same thing: "Thank you! Now I understand!"  What's more, the Society for News Design - a veritable World Cup of newspaper design - honored his work with an Award of Excellence.  The competition's Scandinavian equivalent awarded him a bronze medal.  "Dagens Nyheter take the financie crisis down to earth by literally beginning at the beginning and giving the reader a step-by-step guide to understanding the nature of the crisis.  There is a fine balance between humor and seriousness," read the jury's motivation.

"When you win awards, it reinforces your confidence and encourages you to devote more time to certain projects.  This alone is worth a lot.  And it doesn't hurt that Dagens Nyheter is very good about telling its readers when one of its staff has received some kind of honor."

Johan is always looking for inspiration for new works - it can be a comic series like Tintin, a program on his favorite TV channel Discovery, magazines such as National Geographic, the works of animator Don Hertzfeldt, artworks, road signs or airport billboards.  But what would his dream project be?

"To explain what happens to people when they burn out or suffer from depression.  This, I think, is a subject that a lot of people are interested in."

See Johan's picture here! (pdf)