Understanding the economic crisis

I read some really insightful reporting this week. It predates the recent bank collapses, but it’s the best explanation I’ve read of how handing out mortgages to people who couldn’t make payments is crashing the world’s economy. It was an episode of the wonderful radio show This American Life broadcast back in May. Reporters spoke with bankers, mortgage brokers, economists, and home buyers about a chain of events that began with unprecedented money flowing to developing countries and is now bringing world stock markets to their knees. The episode costs a bit to download, but you’ll see a small link marked “Download a transcript” that’s free. Available here: http://www.thisamericanlife.org/Radio_Episode.aspx?sched=1242.

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One thought on “Understanding the economic crisis

  1. drscorpio says:

    Thanks for the tip, I had been meaning to listen to that episode. It was enlightening.

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