Sunday, September 21, 2008

Money money money
Thanks to Robyn for posting this on the Public Address forums... It clearly explains just how the financial mess in the US came about.

"There's an hour-long special on NPR's All Thing's Considered radio show which explains the subprime crisis in simply, entertainingly yet thoroughly.

'This American Life producer Alex Blumberg teams up with NPR's Adam Davidson for the entire hour to tell the story—the surprisingly entertaining story—of how the U.S. got itself into a housing crisis. They talk to people who were actually working in the housing, banking, finance and mortgage industries, about what they thought during the boom times, and why the bust happened. And they explain that a lot of it has to do with the giant global pool of money.' There's a transcript too if you want to read it."
I read the transcript, well worth it. Made a lot more sense than the various long-winded reports in the Weekend Herald.

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