In case anyone out there in blogland has been living in a internet ready cave, we are going through a major downturn in the world economy. Perhaps, at least on a global level, for the first time. The folks over at This American Life have done an excellent job of describing just what the mortgage meltdown was all about, and this week they followed it up with an explaination of just WHAT THE FUCK has been happening in the last few weeks. I highly recommend you listen to these two podcasts, in this order, and it will help to clear up exactly what has been happening this year to all those poor wittle baby fatcats on Wallstreet:
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1 comment:
well, according to the second, it's not just them anymore. fascinating stuff. it does really help.
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