Then I strongly suggest that you take some time out of your day and listen to this 40 minute episode of fresh air with Michael Greenberger. He talks about the underlying mechanisms in play, why they are so nasty and takes a stab at some of the underlying root causes. And, most important, makes them accessible to people like me who don’t drink these things in on a day to day basis. Really, it’s worth your time to listen to this show.
In a world in which we’re constrained to a one page article on cnn or 5 minutes in the nightly news it’s nice to hear someone spend a good half an hour explaining what’s going on. Something as complex and important as this requires time to explain.
I’ll add to the list of good explanations about the financial crisis
check out this article http://www.dollarsandsense.org/blog/2008/09/greed-fallacy.html
Somewhat related, I highly enjoyed this BloggingHeads were they spend time talking about this and other subjects: http://bloggingheads.tv/diavlogs/14410
Thanks, Chris, I’ve been looking for something like this for the same reasons as you.
Also, my recaptcha words for this post are “sup youngster”, which I find amusing.
If you want the mp3 instead of to “Listen now”, it took me a couple minutes to find so here’s a direct link: Fresh Air: Was ‘Adult Supervision’ Needed On Wall Street?
thanks joshuadf – i looked for several minutes and couldn’t find the link.
Easy to explain, USA financial system fucked up the whole world, how difficult is that to understand?