Monday, September 22, 2008

A billion here, a billion there, and pretty soon you're talking about real money


It's a few months old, but the This American Life episode "The Giant Pool of Money" is still well worth listening to. It explains how the housing/mortgage crisis came about, and how that caused the turbulence on Wall Street we're now weathering. And puts it all in understandable, if mind-boggling, terms. The free podcast download is long gone, but you can either stream it or read a transcript for free, or download it for around a buck.

4 comments:

God Is My Codependent said...

Is it going to depress the hell out of me?

Jim Donahue said...

Yes. But you'll better understand what happened.

God Is My Codependent said...

Is that going to help me in the time between the window and the pavement?

Jay Jordan said...

I don't have time to read it but I'd like to take a guess anyway - you loan lots of people lots of money just because they say they can pay it back, and then when they can't, you're in deep shit.