Giant Pool of Money

Public Radio International ^ | October 19, 2009

[MosesKnows]

The Giant Pool of Money

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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

I have wanted to hear this or read the transcript every since I first heard portions of it on my car radio. I was driving to Pennsylvania on Interstate 81 with a destination of McConnellsburg to join some friends for a week-end of camping and shooting skeet. I had tuned the radio to a NPR station out of Washington D.C. It was raining hard and my radio was breaking up but the premise of the topic was fascinating. I strained to hear as much as I could over the rain, cell phone calls, and GPS instructions.

I told myself to check later for a transcript, which I forgot until about one month later, which was today. I found it without too much trouble and deemed it had merit enough to share. What I posted is a URL link to listen online, download the MP3, or copy the transcript PDF.

It is not for those seeking immediate satisfaction and a short explanation of the money crisis, which I continue to research. There are several aspects requiring research such as the cause and effect that allowed the subprime mortgage to occur. Causes are primarily political in nature. This program dealt with what happened when the government took the decision to manipulate the mortgage industry.

The program is called “This American Life” and episode#355 is titled “The Giant Pool of Money” It was not a surprise to me that this episode hosted by Ira Glass won a 2008 George Foster Peabody Award. It also helped restore my faith in awards after the Nobel Peace Prize political fiasco.

[MosesKnows]

This fascinating, comprehensive look at how the housing crisis came about recently won a 2008 Peabody Award.

[familyop]

"It all comes back to the Giant Pool of Money"

It all comes back to the anti-American trade deals that the "giant pool of money" is covering for. We can't get something for nothing for long and must do some real work again.

[Orange1998]

Simple.... OPM “other peoples money”.