Yesterday, Simon Owens, publisher of the Bloggasm blog, wrote a post entitled, "Did This American Life Affect the Media Conversation about the Mortgage Crisis?"
While it is doubtful that any one program, book, article or conversation was responsible for catapulting the unfolding credit crisis from the business section to the front pages, the documentary he makes reference to does provide an interesting and informative overview -- especially for nonfinancial audiences -- about how things got to the point where they are now (or were, at least, three months ago).
Broadcast in May on Chicago Public Radio’s This American Life program, "The Giant Pool of Money,” was, according to CPR, a
special program about the housing crisis produced in a special collaboration with NPR News. We explain it all to you. What does the housing crisis have to do with the turmoil on Wall Street? Why did banks make half-million dollar loans to people without jobs or income? And why is everyone talking so much about the 1930s? It all comes back to the Giant Pool of Money.
Click here to listen to a streaming version of the program or here to download a PDF copy of the show's transcript.
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