Sunrise Ruby

To anyone who, like me, is trying to understand the current mess the markets are in, I highly recommend listening to This American Life Episode 355: The Giant Pool of Money.  It aired way back in May, so it obviously doesn’t address yesterday’s events, but it provides great background information for understanding the current credit crisis.

Nathan and I listened to Ira Glass’s riveting story of hungry investors, unscrupulous mortgage brokers, and fabricated credit ratings last night after Ben went to bed.  It was a little like watching a runaway train crash and burn.  A train that we all happen to be on.