In August, I posted an article to point readers to a public radio show This American Life where they had aired a program titled “The Giant Pool of Money,” focusing on the subprime meltdown.
Recently, they aired Another Frightening Show About the Economy which goes into even more detail, this time focusing on the commercial paper market and credit default swaps. I offer this as a sample of the explanations out there that are actually understandable by the average Joe, in this case from a radio show I’ve enjoyed for years.
Note: as the comments here are not seen without the extra click, this one was worth adding right to the post, a note from one of my regular readers (thanks, JAL!):
If you enjoyed the economic related episodes on NPR’s This American Life, you’ll probably also like NPR’s Planet Money daily podcast. In the same style as This American Life, it features discussions and interviews about the current economic situation in a plain easy-to-understand form. Check it out: