Nosecohn
Oct
8

Understand the financial crisis in three hours

Over the last couple years, I’ve learned a good deal about economics and public policy. But like many people, I still had a tough time figuring out the current financial crisis. What caused it? How are all the pieces connected? How does it affect me?

The following three programs, each running about an hour and geared towards the layperson, greatly increased my understanding of what’s going on. I hope they’ll help you too…

Back in May, the public radio show This American Life did a special episode titled “The Giant Pool of Money,” about the root causes of the subprime mortgage crisis. Since their usual audience is not largely composed of people with a financial background, the producers made a special effort to present the topic in an easily digestible format that the layperson can follow. You can download or listen to it here, or subscribe to the free podcast on iTunes.

This American Life won praise and awards for that episode. It was even featured in a New York Times article. They followed up their success with “Another Frightening Show About the Economy” on October 3rd. It goes deeper into how the crisis spread outside the subprime market.

Just a couple days before that, billionaire investor Warren Buffet sat down for a fascinating interview with Charlie Rose.

If you want a crash course in the financial crisis, bailouts, regulation and the wider economic consequences, dedicating three hours to the above will definitely get you somewhere.

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