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Another Attempt To Explain The Mortgage Mess (NPR Audio)

thisamericanlife.org — The surprisingly entertaining story - of how the US got itself into a housing crisis. They talk to people who were actually working in the housing, banking, finance and mortgage industries, about what they thought during the boom times, and why the bust happened. And they explain that a lot of it has to do with the giant global pool of money.

Who dugg this?

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  • StingingNettle, on 05/25/2008, -0/+4I knew how crazy it was during the boom, and how there was going to be a huge bust thanks to the information of the dailyreckoning.com (I don't work for them, but I'm going to plug them cause they helped me avoid this whole mess). But listening to all the individual stories up the latter that made this whole thing possible really paints an insane picture. Greenspan is just as complicit in this as the person who underwrote cdo's to the loan offers to the people buying the homes. They all made it happen. There is this mob like mentality with humans that if everyone else is "doing it", then its ok and so I should do it as well.
  • inactive, on 05/25/2008, -0/+3Mi amigo, I think that in order to have open minds that don't get stuck into a calcified way of thinking, that we need to listen to diverse news sources.

    We should judge the editorial policy of each news organization so that we can "unspin" the news and opinion that they give us. You know the orientation of NPR, so interpret the broadcasts with that in mind. I read the WSJ, the Times, a number of British papers, al Haaretz, the Jerusalem Post, el Mercurio de Santiago, I listen to the BBC, NPR, Radio BioBio, etc. It is also important to read a LOT of history. My humble opinion is that we should get as many different angles as possible.

    If we want to be the ones that think honestly and broadly, we should not fall into the trap of limiting our sources of information. Almost every ideology makes some valid points. (exception being the neoconservative wing of the American Republican Party)
  • inactive, on 05/25/2008, -1/+4NPR is unreliable, as it does have corporate and government masters. It's a good news source for "limousine liberals", wealthy people who want feel as if they are actually opposing the creeping fascism. Tom Wolfe wrote a good little book about Limousine Liberals in "Radical Chic" back in the early seventies.

    Turn off NPR, listen to Pacifica instead ( WPFW 89.3 here in DC ) and catch Democracy Now! at 8AM.

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