Tuesday, March 3, 2009
Banking Crisis Explained . . . Mostly
I listened to this very entertaining audio file today from PRI's This American Life. Right now it's a free download. Anyway, they do a nice job of explaining what's happening with the banks and their dubious balance sheet antics. It's a public radio production, but it's not as liberal as the usual fare. It fails to mention why banks got into the mess to begin with (i.e., being forced to make bad loans by the Community Reinvestment Act and their ACORN thugs), but they mange to tell a compelling story from that point on. This program will definitely help you better understand this complicated and perilous situation.