The Giant Pool of Money

Chicago Public Radio is doing their pledge drive right now, which is a nightmare, but on Saturday morning they peppered the This American Life time slot with excerpts from a fascinating piece they did early this year. It really did explain the sub-prime mortgage crisis in a totally interesting and clear way through the people involved, from the initial borrower to the international investment bankers.

The Giant Pool of Money

Click the link above and then on "Full Episode" to stream the episode. It is an hour long so hopefully you can make the time for it. You can also buy it for $1 on iTunes through that link.

Here's how they describe it...

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.