mortgage doom

Here's a "This American Life" transcript that is the most comprehensible explanation of the mortgage mess that I've seen so far. (Why it's PDF instead of HTML, I couldn't tell you.)
Tags: ,

8 Responses:

  1. endquote says:

    This week's is the sequel to that one. Not sure about a transcript though.

    However I would argue that this is more comprehensible than either, though somewhat less comprehensive.

  2. lafinjack says:

    There's a Googleized HTML version here.

  3. cyeh says:

    Adam Davidson: You might not believe me, but that little statement: that is Central Banker speak for "Hey, global pool of money - screw you."

    It's a good starter point but it doesn't go into the complete accounting of greed that went on. If you ever get interested in reading about it, I can recommend 'Chain of Blame'

    It's a bit thick in spots, but the entire idea is that it was one giant scheme that encouraged irresponsible lending from the top to the bottom with a lot of fees and commissions in between. The closest analogy I can think of was a stock broker in the dot-com boom sucking up fees for every trade sold, even if the underlying stock was a complete piece of shit.

    One thing that I am having a complaint about is how poorly the media does of actually describing the actual economic problem underlying the current crisis. Yeah, the mortgage lending industry and a housing bubble started it. But that's not the problem that is worrying everyone right now.

  4. keimel says:

    As others have indicated, they're back on TAL this current week. The mp3 is here: . Can't find the transcript yet, but I bet that part is farmed out elsewhere and gets posted a week or so later.