The real story on these banks

I don’t often insist that you do something, but I am doing that now. Check this out. I am a frequent listener of “The American Life” on NPR and released as a very popular podcast. The shows are always interesting, providing a fascinating look at aspects of American society and culture. But their show this last week, called “Bad Banks,” is a must-listen for anyone who finds themselves just a bit under-informed about the international banking crisis. They explain it in a simple, amusing and deeply frightening way. Check it out or download the podcast at iTunes. They did a similar show last year about the mortgage crisis that was also a must-listen.

The collapse of the banking system explained, in just 59 minutes. Our crack economics team—the guys who explained the mortgage crisis, Alex Blumberg and NPR’s Adam Davidson—are back to help all of us understand the news. For instance, when we talk about an insolvent bank, what does it actually mean, and why are we giving hundreds of billions of dollars to rich bankers who screwed up their own businesses?

This thing will please neither Democrats nor Republicans. In fact, it will scare the hell out of you, but leave you feeling smart … and in want of a food and weapons cache, depending on your orientation.

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