From Pine View Farm

What Went Wrong 0

This American Life explains how the Wall Street banks broke the banks, and, in the process, defines in plain language all the gibberish terms and acronyms that Wall Street bankers use to conceal their foolish greed. From the website:

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.

If you want to know what’s going on, listen to this show.

I’ll link to the audio when it is posted. The audio is available for streaming or downloading at the link above.

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