This American Life

[shelleycat]

An Internet friend mentioned an NPR report on the banking crisis and mortgage scams. I sort of knew what was going on, but wow. The podcast costs money but the .pdf file is free. Here in easy, general terms is a complete explanation of our current money crisis:

http://www.thisamericanlife.org/extras/radio/355_transcript.pdf

Comments

[jmpava]

I highly recommend both shows. They made it so much easier to follow everything that's going on. The 1st one describes the general concept (bad mortgages, everyone pulling from the same pool of mislabeled assests). The 2nd one describes the fallout that occurred as to why all the banks started failing and why the (initial) economic stimulus was such a big deal since corporations suddenly didn't have active cash availability.

Cora, I've got the 3rd one currently on my phone, fwiw, just haven't update