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What Does It All Mean? Understanding the Financial Crisis and the Bailout
Check out this podcast episode from This American Life. In terms that everybody can understand, the episode explains the origins of the current financial crisis and how regulation could have prevented this crisis.
For me, the details of the financial crisis have been difficult to grasp. And given the direct impact of the crisis on the communities with which we work, I wanted to make sure I fully grasped the origins of the current financial crisis and the implications of the revised bailout bill.
This American Life recently released a podcast episode which explains the crisis in terms that everybody can understand. How did this happen? Who is responsible? Listen to it and find out.
So now that the bailout bill has passed, what's our next move? Well, the episode talks about a "stock injection plan", an alternative to Paulson's original plan, that some economists say would be better for the public good. Guess what? Apparently, it got slipped into the revised bill as an option last Friday! Is this the hook for us to ensure that the bailout bill protects communities first instead of banks and corporations?
What do you think?
The episode is free to download this week.
DISCLAIMER: The opinions expressed on this episode of This American Life does not necessarily reflect the views of the Movement Vision Lab or the Center for Community Change.
