Cliff Notes for the Financial Meltdown
Do you find yourself completely intrigued by the historic economic meltdown confronting the USA and the world? Do you find yourself completely lost in a sea of economic jargon, and as a result, struggling to understand how this could happen? After all, how many of us can understand terms like “credit default swaps” or even “sub-prime mortgage backed securities”? And what do these have to do with AIG going bankrupt? Isn’t AIG an insurance company? Why would an insurance company go bankrupt if some poor family in California defaults on their mortgage?
If you want a clear, easy-to-understand explanation of what is happening behind the scenes of the economic meltdown, you must listen to Chicago Public Radio’s This American Life’s episode of “Another Frightening Show About the Economic.” Alex Blumberg and Adam Davidson take 60 minutes to explain in simple English what is happening and why it has 30-year Wall Street veterans shaking in their boots. This is essential information for any American trying to understand what in the world is going on with the financial markets.
Episode 365: “Another Frightening Show About the Economy”