DISQUS

AMERICAblog: "This package of dodgy debts stops being a dodgy debt and becomes a structured investment vehicle." "Ah . . ."

  • zihuata · 7 months ago
    there were alt-a loans too. Most of the loans were from unregulated private sector banks, not the CRA or fannie freddie...

    The best explanation for how it all started is a npr piece you can find here: Called the Giant pool of money

    If you want the lowdown on what exactly has happened in the global economy to cause the panic and strain we’ve been seeing over the past few weeks in finance markets worldwide, you could do a lot worse than the following links:

    In The Giant Pool of Money, This American Life producer Alex Blumberg teams up with NPR’s Adam Davidson to tell the surprisingly entertaining story of how the U.S. got itself into a housing crisis.