Credit crisis 101

For those of us who are financial morons like me, this is a refreshingly educational take on the financial crisis:

This American Life

355: The Giant Pool of Money

Download a transcript.

A special program about the housing crisis produced in a special collaboration with NPR News. We explain it all to you. 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.

A shorter companion version of this story appeared on NPR’s All Things Considered.

Stay updated! Alex Blumberg and Adam Davidson (the guys who did this program) have a new daily, free podcast and blog applying that same explanatory power to each day’s breaking news on the financial crisis: Planet Money.

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