Do phrases like “mortgage-backed securities,” “credit default swaps,” or “naked short-selling” make your mind spin? Trying to decide if you like the idea of a $700 billion bailout of the people that caused the problem to begin with?
Back in May (I believe), the fine folks over at This American Life (a really interesting show that I highly recommend) did an entire hour-long episode devoted to explaining the housing bubble burst and how we all got in so much trouble to begin with. The episode was so popular, due to its crystal clear, jargon-free explanations of the financial mechanisms that are bringing this country to its knees that the producer, Alex Blumberg, and the NPR correspondent that he put that show together with, Adam Davidson, decided to start their own daily podcast covering the ever evolving nature of the crisis from a neutral, still jargon-free perspective. They call it Planet Money.
Just this past week, as the bailout plan was passed through Congress, they teamed up with This American Life again to do another hour-long show about the economy, which is currently available, free to download, through Sunday, October 12th, here. After that, don’t complain to me when you have to cough up a whole $0.95 to download it; I’ll just tell you to stream it free from their website.
So, go check them out, and let me know what you think.