Mad Money Machine

Best Explanation of Credit Crisis

I just listened to an hour long podcast from This American Life that explains the current credit crisis by talking to some of the guys in the chain of the crisis. From the guy with No Income No Assets taking out a half million dollar mortgage, to the guy selling it, to the guy buying it, to where they are today. From $1000 bottles of champagne to asking daddy for money.

The episode is 355: The Giant Pool of Money and if you’ve got an hour, I definitely recommend it. You can either listen on your computer or thru iTunes.