The Great Recession
An Audio Explanation of the Crisis.
Many people would like to know how and why the financial crisis starting with the housing bubble began and how it reached critical mass. Below are the links to two NPR radio programs done by This American Life. These programs offer some of the best explanations of the technical issues in easy to understand language this editor has had the opportunity to listen to.
The Giant Pool of Money
This program aired originally on May 9th 2008 and explains many of the activities of the players in mortgage market prior to the collapse.
Another Frightening Show About the Economy
This program originally aired on October 3rd 2008 and explains the mechanics of the collapse. Economists have been telling people for sometime that a bank run was nearly impossible in the modern era of FDIC yet this program describes very well exactly how a back run was exactly what happened in 2008.
Steinhardt Lecture 2010 at Lewis & Clark
Dr. William Black
An excellent discussion on the run up to and legal repercussions of the housing market bubble.