This American Life

Several months ago This American Life did an episode on the sub-prime mortgage crisis called, The Giant Pool of Money. It was far and away the best 55 minute explanation on how mortgages got turned into securities and then sold on up the financial food chain. Which subsequently set the scene for the crisis we (meaning the world) finds ourselves in right now. It remains one of TAL most popular episodes ever because of the clear narrative they used to explain complicated financial instruments. It's worth the $.99 to purchase the episode.

Today the two producers who made that first show, Alex Blumberg and NPR's Adam Davidson, have done another one called: Another Frightening Show About the Economy which is a pretty ominous title if you ask me.

The link above will take you to the TAL iTunes page where you can download the episode for FREE until Sunday 10/12. I have not had a chance to listen to the program yet, but if it's half as good as the "The Global Pool of Money" then it is a must hear for anyone who finds this whole financial mess confusing (which is pretty much all of us). I'll post my thoughts once I finish listening to it.