Curious about why the US housing crisis and the near collapse of the global economy happened? Here’s a compelling episode of the radio show This American Life from 2008 which talks about one of its catalysts — the giant pool of money. It’s an astounding chain of events. To hear the story (or download a transcript) click on the link below.
The follow-up episode, Return to the Giant Pool of Money, provides an update on some of the characters from the first story who were affected by the housing crisis. Click the link below for that story.
Also, the original show was so successful, it spawned a corresponding blog called Planet Money which just celebrated its first anniversary. You can check it out here.