My Lazy Girl's Guide to the Meltdown

Finally realized that the grownups you thought were in charge of our economy were just kids with their hands in the candy jar? Join my club. Want to make sure the jokers in Congress don't screw things up further? To be able to hold them accountable for good policy going forward, we need to understand how we got in this mess. But how to do that without heavy reading? Here are links to the best radio shows (available online) on the meltdown. You can listen online while doing your most mindless computer tasks, like cleaning out your "sent mail" folder of the last 6 months.

The very best explanation I've heard goes back to April 08, on
Fresh Air -- Prof. Michael Greenberger interviewed by Terry Gross --
in a program called "Our Confusing Economy explained" http://www.npr.org/templates/player/mediaPlayer.html?action=1&t=1&islist=false&id=89338743&m=89338809

Now, for more details about the rip-off machine generally referred to as our global financial system, here are great programs:

1. Credit Default Swaps - how they work and why they ruined us! "The Giant Pool of Money" (5/9/08) on This American Life at http://thisamericanlife.org/Radio_Episode.aspx?episode=355

2. How Bad is the meltdown, and why? "Another Frightening Show on the Economy" on This American Life (10/3/08) http://thisamericanlife.org/Radio_Episode.aspx?sched=1263

3. Who tried to provide Adult Supervision on WallStreet?
Interview with Michael Greenberger on Fresh Air with Terry Gross (9/17/08)http://www.npr.org/templates/story/story.php?storyId=94686428

4- What role did Fannie Mae and Freddie Mac Play in the Meltdown?
C-Span Q&A with Peter Wallinson (AEI), (9/14/08) http://qanda.org/Video/?ProgramID=1197

5- Are the real culprits the Ratings Agencies (S&P, Moody's, Fitch)? -- I think so, and here's the best explanation! C-Span -House Hearing on Credit Rating Agencies - Henry Waxman (D), Chr. This is a 4-hour hearing, boooring... but if you can navigate to the statement of Sean Egan, Managing Director, Egan-Jones Credit Rating Agency– minute 31:13-39:10 - and again in answer period 44:00-46:05, you will want to start knitting quietly in true Madame DuFarge style! http://www.cspan.org/search.aspx?For=Ratings%20Agencies