NPR Does Subprime
If you want a very good lay person's edition of the Credit Bubble mess, listen to NPR's Global Pool of Money Got Too Hungry (audio, 13 min., All Things Considered, May 9): "Adam Davidson and This American Life's Alex Blumberg jointly report on how rising defaults on subprime mortgages in the U.S. have became a global financial crisis. This American Life host Ira Glass talks with Michele Noris".
NPR demystifies SEVs, CDOs, MBSs, "Liar Loans," and more. The narrative concludes: "… Nobody really questioned things. And why should they? Everybody was making money — right up to the day the bottom fell out."
An hour-long version — The Giant Pool of Money — airs this weekend on This American Life.
Sun. night look on your National Public Radio station (www.npr.org) for "This American Life" for the full hour show. At the least, they're TRYING to ask the right questions, and that alone makes it a worthwhile effort.
Posted by: bailey | May 11, 2008 at 07:56 AM