Erik Heerlein’s Weblog

The Giant Pool of Money – The financial crisis explained

Posted in Uncategorized by erikheerlein on September 29, 2008

I could understand the attraction to those mortgages that the banks were selling. You could get a house without any income or assets. But what I never understood was the attraction for banks to give money to people who they wouldn’t even look at before.

This May 9th 2008 episode of This American Life takes a layman’s view and explains it all pretty well.

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