Sunday, January 3, 2010

Understanding the Financial Crisis of November 2008

Been meaning to put these links all in one place. (I can now mark this off my new year's to do list!)

2009 taught me, among other things, that the good guys/gals don't always win. This makes it all the more important to be conscious of what's going on and remain in communication with our representatives and senators. I heard a great phrase quoted on a clip from the Women's Conference: "If you see something, say something."

I was completely befuddled by how massive the financial crisis was globe-wide. These three pieces of media brought stark clarity to who, what, where, when, why and how our nation and the world entered into and just barely averted "Depression 2.0".

1.) February 29, 2009 "This American Life" radio episode where Ira Glass and others concisely and entertainingly explain "toxic assets". Well-worth the 59 minute listen. http://www.thisamericanlife.com/Radio_Episode.aspx?sched=1285

2.) Time magazine article, "25 People to Blame for the Financial Crisis". Read the list and then click on the links to find out each 25th of the pie that lead us to disaster. Very informative.
http://www.time.com/time/specials/packages/completelist/0,29569,1877351,00.html

3.) February 17, 2009 Frontline's "Inside the Meltdown". After you listen to the radio show and read the Time article, watch this video online. It gives an in-depth look at how the government took actions to avert all-out disaster. Most intriguing is the story of Hank Paulsen who did a 180 from his free-market ideology in the face of historic banking and loan failures.
http://www.pbs.org/wgbh/pages/frontline/meltdown/view/

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