Mortgage Crisis 101

Leave it to This American Life to explain the genesis of the recent mortgage debacle in a way that’s understandable and entertaining. This evening I listened to the podcast of the episode entitled “The Giant Pool of Money” (from May 9th) and for the first time, I understand the domino effect of the housing/credit crisis, from Wall Street all the way down to the foreclosed home down the block. If you’re interested, you can listen to it here from their website.

2 thoughts on “Mortgage Crisis 101

  1. I actually sat in my garage for an extra fifteen minutes so I could listen to the end of the broadcast. Very informative. I’m trying to get a loan through now for a large purchase. I have the money, I’m putting a third down, I have great credit, but because of a technicality it has been very difficult to push it through. I finally had to call the bank president in to make it happen and he was nice enough to set things in motion. One LARGE advantage of working with a local bank.

  2. Definitely worth a listen. Wall Street Journal has also done a good job of explaining CDOs and the credit crisis. But “TAL” has music….

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