a bunch of times already i've plugged the this american life episode, "a giant pool of money" as the best explanation of the housing credit crisis i've seen. this week's TAL episode is the sequel of sorts, "another frightening show about the economy." the latest episode focuses on the events of the last two weeks: what exactly happened to the credit system, why it caused so many people to freak out and whether the $700 billion bailout was a good idea. "another frightening show" is not quite as good as "a giant pool." the explanation in this week's show is a bit more complex and than the "giant pool" was. but i think that's because the crisis itself is more complex as it grows from a bad mortgage problem to an overall credit and financial market problem....
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