The Buddha said “I am Awake”

What follows is an indepth look at various layers of the current financial crisis. We’ve looked at the first one…but the others are just as good.  If you listen to these three podcasts and read “The End”, you’ll know more about what is happening to our economy than the Secretary of the Treasury.  So good luck – I think you’ll like it!  Email me or call 616-402-8668 if you have any questions.  

#1 -Giant Pool of Money – This American Life

• 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

• Link to NPR podcast
• PDF Questions – on the “Giant Pool of Money”

#2 – Bad Bank – This American Life

• 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? Also, two guys go to New Jersey to look at a toxic asset.

• Link to NPR podcast
• PDF Questions – on the “Bad Bank”

#3 – Scenes from a Recession – This American Life

• The economy works in mysterious ways. This week, we highlight the unusual circumstances our economic drought has left us in, and the newly hatched plans being made to survive it: including a partially-renovated condo building in Chicago, whose developers have abandoned it—though they didn’t bother to tell the 19 unit owners who still live there, paying their mortgages. And a story which tracks the FDIC during its most covert operation: taking over an unsuspecting bank.

• Link to NPR podcast
• This is a three Act show. Fascinating stories on a broken down condo in Chicago, the bankruptcy  of Circuit City, and a very very cool piece on an FDIC takeover of a Washington state bank.  I am working on PDF questions and will post soon.  So go ahead and listen…you’ll love it.

#4 – “The End” by Michael Lewis – a great article from Portfolio.com.

•  I know I’ve had this out there for awhile.  I promise we will talk about it in depth afterschool for extra credit next week.  If you choose to do this – read the whole article, write all over it, and come prepared to talk about it.  We’ll set up discussions, and you’ll get a good share of extra credit.

#5 – “Margaritaville” by South Park Studios – click here

• Takes apart the mortgage backed security crisis and the bank failures like only South Park can.  The episode is not available for streaming until April 24.  But when it is, tune in…they do a great job in adding their own little interpretation to this whole mess.  No assignment…just tune in and watch.

Filed under: 1 Senior Current Issues, 2 Economics