Monday, March 30, 2009

How we got into this mess and why we can't get out

The NPR program This American Life has two episodes that explain the current economic crisis quite well. Each is an hour long and can be streamed through the internet.

From May 9, 2008, The Giant Pool of Money about how we got into the mess.

From February 27, 2009, Bad Bank about why it is so hard to get out of the mess. One of the recommended solutions to deal with a problematic bank is for the government to take it over, clean it up, and sell what remains. But when the problem is all of the biggest banks who has enough money to buy the remains? That comes after you convince the banker his bank really doesn't have enough money and he is about to lose his job. And if he contributed to your campaign…

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