This American Life explains why the house is burning down. Er, the economy, anyway.


This American Life. Thank you Ira Glass. Wow, talk about boiling down tough material into something digestible. Otherwise incredibly dry stuff without the specter of Great Depression looming about, this 1 hour NPR audio show very prescient and well done overview of what the heck is really happening with the economy. Why are people freaking out about commercial paper? What happened on September 17th that made Wall Street go nuts? What are credit default swaps and why do they threaten to destroy the banking system?

And finally, they explain how tricky the terms of the bailout that passed really were, and how that's a good thing for us as taxpayers.

Check it out here.