the best explanation I've heard about the financial crisis
Many are still asking about what really happened behind the scenes that led to this financial crisis.
In this radio broadcast from This American Life, they explained how it all started--from the borrowers all the way up to the world financial pool that had sixty trillion dollars to invest (they only had thirty as late as year 2000).
What intrigued me most was the psychological intricacies and human nature at work. What were we thinking?!
- You can download the written transcript here
- Here's the radio broadcast (click "full episode")
*Thanks Dan Ariely from PredictablyIrrational.com (amazing blog) for sharing this link.
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Thanks for this link. It takes a while to listen to it or read the transcript, but I think the slow pace helps in absorbing the information. It definitely makes it all understandable, and I liked the Nevada connection.
The ending was a little ironic--I guess this was produced last May, and they're saying the result of all this will just be 1970s-style discomfort. I wish!
Ann,
When I first opened the link and found out that it was an hour long---I almost clicked the "X" button.
But I'm glad you also found it useful and of interest.