As I mention in my
talk on the financial crisis, the best journalism I've seen on the topic has come from the public radio show This American Life. Their latest is a crystal clear report on the current status of the banking crisis, focusing on bank balance sheets and the question of nationalization. At the end there is a shorter segment illustrating how hard it will be at ground level to deal with individual foreclosures and bad mortgages. This has my highest recommendation:
Bad Bank.
Their earlier show on the mechanics of the out of control mortgage industry is:
The Giant Pool of Money. (My comments
here.)
Below is a graph mentioned in the Bad Bank podcast, displaying total US household debt relative to GDP over time.
Thanks to multiple readers who alerted me to the new podcast!
