Saturday, March 7th, 2009...12:34 pm Posted by R Dinakaran
The collapse of the banking system explained, in 59 minutes
If you find comprehending the reason for the economic crisis and the banking system collapse, This American Life, an online radio/podcast site, has a nice 59-minute programme that explains it in an easy-to-understand format. You can listen to it here.
This is what This American Life has to say about the episode:
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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