Do you want to know what or who or how the recent economic crisis has come about in simple, easy to understand terms? Then I would recommend you check out a recent episode of This American Life titled Bad Bank. This is perhaps the best, simple, easy to understand, and scary at the same time, explanation of the global financial crisis that we are experiencing.
<CLICK HERE> to listen to this captivating and informative 1 hour radio show.
Synopsis:
The collapse of the banking system explained, in just 59 minutes. Our crack economics team—the guys who explained the mortgage crisis, Alex Blumberg and NPR’s Adam Davidson—are back to help all of us understand the news. For instance, when we talk about an insolvent bank, what does it actually mean, and why are we giving hundreds of billions of dollars to rich bankers who screwed up their own businesses? Also, two guys go to New Jersey to look at a toxic asset.
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