TAF’s another frightening episode

For those of us that enjoyed the episode from This American Life explaining the sub-prime mortgage problem, This American Life has a follow-up this week: Another Frightening Show About the Economy (free download til end of week), wherein they discuss developments from the past months, thereby including the commercial paper market, “breaking the buck”, credit default swaps, and the bailout plan.

The TAF content is an oasis in a burning desert of shitty partisan journalism out there.  Contrast TAF with a recent 60 Minutes episode on nearly the same subject.  (They even interview some of the same people, such as Professor Michael Greenberger, former director at Commodities Futures Trading commission.)   Yet the fact-to-analysis ratio is incredibly low.   I’m bored of reading articles that explain little and only deride the  “greed” on Wall Street.

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