published February, 2009
I heard a rebroadcast of a good radio show on “This American Life” describing how the mortgage crisis occurred—which tied into and reinforced what I had already figured out, but is very understandable and includes crying marines, remorseless mortgage ‘bundlers’ and the French word “tranche’ which translates to slice.
The Giant Pool of Money — We listen back to a special program about the housing crisis produced in collaboration with NPR News. This program originally aired in May, 2008. What does the housing crisis have to do with the turmoil on Wall Street? Why did banks make half-million dollar loans to people without jobs or income? And why is everyone talking so much about the 1930s? It all comes back to the giant pool of money.
If you follow the link, you can ‘listen now’ to the show named The Giant Pool of Money—I would have named it differently, but they didn’t ask me.