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355: The Giant Pool of Money - This American Life
A special program about the housing crisis produced in a special collaboration with NPR News. We explain it all to you. What does the housing crisis have to do with the turmoil on Wall Street? Why did banks make half-million dollar loans to people without jobs or income? And why is everyone talking so much about the 1930s? It all comes back to the Giant Pool of Money.
Bill Moyers Journal . Watch & Listen | PBS
The financial industry brought the economy to its knees, but how did they get away with it? With the nation wondering how to hold the bankers accountable, Bill Moyers sits down with William K. Black, the former senior regulator who cracked down on banks during the savings and loan crisis of the 1980s. Black offers his analysis of what went wrong and his critique of the bailout
How the Crash Will Reshape America - The Atlantic (March 2009)
The crash of 2008 continues to reverberate loudly nationwide—destroying jobs, bankrupting businesses, and displacing homeowners. But already, it has damaged some places much more severely than others. On the other side of the crisis, America’s economic landscape will look very different than it does today. What fate will the coming years hold for New York, Charlotte, Detroit, Las Vegas? Will the suburbs be ineffably changed? Which cities and regions can come back strong? And which will never come back at all?
Visualizing One Trillion Dollars | Mint.com Blog | Personal Finance News & Advice
One trillion dollars; it’s a number that few people can comprehend, let alone your standard nine digit calculator. There have been attempts to put this number into perspective before. A trillion dollar bills laid end to end would reach the sun or you spend a dollar per second for 32,000 years or one trillion dollars in pennies would weigh as much as 2,755,778 Argentinosauruses (the largest known dinosaur). Fanciful as this may be, the real story behind one trillion dollars is in its economic impact. Let’s investigate what one trillion dollars can do.
27 Visualizations and Infographics to Understand the Financial Crisis | FlowingData
I've said it before, and I'll say it again. If there's anything good that has come out of the financial crisis it's the slew of high-quality graphics to help us understand what's going on. Some visualizations attempt to explain it all while others focus on affected business. Others concentrate on how we, as citizens are affected. Some show those who are responsible. After you examine these 27 visualizations and infographics, no doubt you'll have a pretty good idea about what's going on.
Rick Santelli: Tea Party Time - The Opinionator Blog - NYTimes.com
This divide between the Market Populism people are fed through the media and people’s own Grassroots Populism is a major catalyst that has turned the last two elections into backlash moments. And as bailouts and handouts now become daily news, and the Market Populists get ever more outrageous, that backlash is intensifying. Channeling it into something positive is the challenge of our time.
NPR: Why We Don't Know Nothing About Nationalization
So, rumors of nationalization will encourage people who own bank stocks to sell in a wild rush. Even though those banks stock prices are low, they're not zero. Not yet.
Even worse, any bank needs to borrow money constantly in order to survive. That's their business model: they borrow money and then lend the money out. If they can't borrow money, they are out of business. Would you lend money to a bank that you heard might be taken over by the government? Probably not.
The Crisis of Credit Visualized
The goal of giving form to a complex situation like the credit crisis is to quickly supply the essence of the situation to those unfamiliar and uninitiated.
China and Russia slam US | The Australian
The Chinese Premier contrasted this with the major causes of the crisis, which he put down to “inappropriate macroeconomic policies of some economies and their unsustainable model of development, characterised by prolonged low savings and high consumption; excessive expansion of financial institutions in blind pursuit of profit; lack of self-discipline among financial institutions and ratings agencies and ensuing distortion of risk information and asset pricing; and the failure of financial supervision and regulation to keep up with financial innovations, which allowed the risks of financial derivatives to build and spread”.
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inappropriate macroeconomic policies of some economies and their unsustainable model of development, characterised by prolonged low savings and high consumption; excessive expansion of financial institutions in blind pursuit of profit; lack of self-discipline among financial institutions and ratings agencies and ensuing distortion of risk information and asset pricing; and the failure of financial supervision and regulation to keep up with financial innovations, which allowed the risks of financial derivatives to build and spread
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I just want to remind you that, just a year ago, American delegates speaking from this rostrum emphasised the US economy's fundamental stability and its cloudless prospects.
“Today, investment banks, the pride of Wall Street, have virtually ceased to exist. In just 12 months, they have posted losses exceeding the profits they made in the last 25 years
Op-Ed Contributors - The End of the Financial World as We Know It - NYTimes.com
Incredibly, intelligent people the world over remain willing to lend us money and even listen to our advice; they appear not to have realized the full extent of our madness. We have at least a brief chance to cure ourselves. But first we need to ask: of what?
FDR and the New Deal: Did it prolong the Great Depression? | Salon
Conservatives' newest talking point -- designed to stop Congress from passing an economic stimulus package -- is breathtaking.
Io9 2008 Year In Review: Best Science Fiction Books of 2008
2008 was an amazing year for science fiction novels, with Anathem hitting bestseller lists and critics going crazy over slavery tale Liberation and cyborg fantasy Alchemy of Stone. We've got the year's eleven best books.
Below are eleven of the year's best science fiction novels, with links to our reviews of them - as well as several interviews we did with the authors. Now's the time to catch up on what you missed out on reading last year!
Barack Obama, A Free-Market-Loving, Big-Spending, Fiscally Conservative Wealth Redistributionist - NYTimes.com
I have spent much of this year trying to get a handle on what is sometimes called Obamanomics and have come away thinking that Obama does have an economic ideology. It’s just not a completely familiar one. Depending on how you look at it, he is both more left-wing and more right-wing than many people realize.
6 New Web Technologies of 2008 You Need to Use Now
Here's to the technologies currently making the web a better place than it was 12 months ago.
John Gray: A shattering moment in America's fall from power | Comment is free | The Observer
The global financial crisis will see the US falter in the same way the Soviet Union did when the Berlin Wall came down. The era of American dominance is over
The Top 10 Green-Tech Breakthroughs of 2008 | Wired Science from Wired.com
The economy is hovering somewhere between catatonic and hebephrenic, and funding for the big plans that green tech companies laid in 2008 might be a lot harder to come by in 2009. Recessions haven't always been the best times for environmentally friendly technologies as consumers and corporations cut discretionary spending on ethical premiums.
Still, green technology and its attendant infrastructure are probably the best bet to drag the American economy out of the doldrums. So, with the optimism endemic to the Silicon Valley region, we present you with the Top 10 Green Tech Breakthroughs of 2008, alternatively titled, The Great Green Hope.
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