Wednesday, October 10, 2007

Subprime 101

If you have any interest at all in the U.S. economy (and who doesn’t ?) you have got to go over to NPR and listen to this story.

Morgenson Sheds Light on Subprime Mortgage Crisis

Seriously, if it means you won’t have time to read anything else I’ve posted today -- so be it. I’d rather you listen to this story.

Terry Gross, the host of Fresh Air, interviews Gretchen Morgenson from The New York Times and asks the fundamental questions that need to be asked about the subprime mortgage mess. Ms. Morgenson’s answers might surprise you. They might even scare you. I hope they’ll leave you better educated -- and outraged.

Listen for the subject of regulation. Or lack thereof. The Bush Administration. Lack of regulation. Who would have thought it ? But if you’ll listen real closely, you’ll hear it didn’t start there.

Go on now. Go listen.

Don Brown
October 10, 2007

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