Adam Davidson and Chana Joffe-Walt from Planet Money head to the Hunts Point Market in the Bronx, a bustling area of vegetable and fruit commerce that only comes alive at night. Planet Money is a co-production of NPR News and This American Life.
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Alex Blumberg and Adam Davidson recount how four accidental steps led to enacting the very questionable system of employers paying for health care.
Host Ira Glass talks with NPR correspondent Adam Davidson about a black tie event he attended in the spring of 2008. The event was an awards dinner for finance professionals who created the mortgage-based financial instruments that nearly brought down the global economic system.
We replay sections from the original "Giant Pool of Money," in which This American Life producer Alex Blumberg teams up with NPR's Adam Davidson to tell the story of how the U.S. got itself into a housing crisis. They talk to people who were actually working in the housing, banking, finance and mortgage industries, about what they thought during the boom times, and why the bust happened.
We catch back up with the people we met in 2008, to see how they've fared over the last 18 months. We talk to Clarence Nathan, who in 2008 received a half million dollar loan that he said he wouldn't have given himself; Jim Finkel, a Wall Street finance guy, who put together and managed complicated mortgage-based financial securities; Richard Campbell, the Marine who was facing foreclosure; and Glen Pizzolorusso, the mortgage company sales manager who led the life of a b-list celebrity.
Planet Money's Alex Blumberg and Adam Davidson talk to Ira about the lawsuit phase of the economic crisis, and the ongoing search to find someone to take the blame. So far at least 196 lawsuits are simply banks suing other banks.
For NPR's Adam Davidson, dropping out of college is the worst thing any young person can do in this economy. So when Adam's favorite cousin DJ does just that, Adam brings in a professor of economics from Georgetown University to help persuade DJ to get back on the right track.
Alex Blumberg and Adam Davidson tackle a very tough subject: Trying to explain exactly what a bank is and does. They talk to a number of experts about what has gone wrong in banking, but not before bringing us all up to speed on some banking basics, like understanding a bank balance sheet, and a bank's assets and liabilities, and the squishy business of what banks say about their balance sheets compared to what they are.Alex and Adam walk us step by step through the complications of the US government buying up bad assets from banks, and explain why, when it comes to footing the bill, the government might just prefer to not be in charge of the very banks it is having taxpayers bailout.
Our crack economics duo, Producer Alex Blumberg and NPR International Economics Correspondent Adam Davidson, on how a dead, slutty, elitist British man, John Maynard Keynes, is about to take over the American economy. President Obama's new stimulus plan relies on Keynes'; theory, which says that government can spend its way out of a downward economic spiral.