A few months back, This American Life — for our money, the best show on radio — did a bang-up job of breaking down the collapse of the housing market in a way that even economic idiots like ourselves could understand. They explain how the house of cards all came crashing down: talking to a 22-year-old fresh out of college who was making six figures (a month) selling iffy mortgages, the financial analysts who warned that the sea of cash rolling was too good to be true, and homeowners who received mortgages after their incomes had been unknowingly exaggerated by their lenders.
It’s fascinating stuff.
That was a really good listen. Thanks for the link. It sounds like this housing issue was a long time in coming, and inevitable.
We’re going to turn the whole world into TAL listeners G.D., you watch.
I just got someone hooked the other day!
I’m glad I reminded you of this, lol.
[...] coming out of Wall Street — and who isn’t? —- a few months back we shouted out this episode we shouted oof the always excellent This American Life which explained very simply the housing crisis and how we got [...]