Decibel (decibel45) wrote,
Decibel
decibel45

POP! Where'd all the money go??

If you're even remotely curious or concerned about the current financial market problems, you NEED to listen to http://www.thisamericanlife.org/Radio_Episode.aspx?episode=355. It does an excellent job of explaining exactly how we got into this mess. Also some sobering information... the credit crunch is so bad right now that the country of Iceland had to raise the rates on it's bonds to 15% to get people to buy! They'd be better off using credit cards! (Hmm... I wonder where I can find some of those bonds...)

Makes me wonder... if we just allow a bunch of these companies to fail, maybe no one will be able to figure out who owns what mortgage. No more foreclosures, housing market starts to recover.
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