The Credit Crunch Unravelled
by blogrdoc
this really is my wallet. and this is about the amount of cash that I typically carry with me.
If all I did was write posts pointing to great ‘This American Life’ episodes, I’d have a new post every week. The urge to do this is so great because it’s such a compelling show. Will this time, I could not resist. TAL gives a ‘behind the scenes’ look at the whole disaster.
Here’s a clip from the episode that I find hilarious. Have a listen (click on blue arrow to listen via flash [may not be viewable in RSS reader]):
At the center of my favorite stories is the theme of how common sense often is not common practice. In my simplistic thinking, the actions which led to the credit crunch seems to me like a big money pyramid scheme. I would think, however, that when people are getting half-million dollar loans with no income, no assets - that would be the clear indicator that the joke has been taken too far.
Here’s a link to full show: The Giant Pool of Money
Popularity: 65% [?]
Sorry, comments for this entry are closed at this time.