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The Giant Pool of Money by cyu14
September 3, 2008, 2:17 pm
Filed under: Social / Cultural Issue | Tags: ,
 
“By late 2006, the average home cost nearly four times what the average family made. Historically it was between two and three times.” (Alex Blumberg, www.thislife.org  

An episode from This American Life, in collaboration with NPR News, details the relationship of the economic downfall on Wall Street to that of the mortage crisis faced by many Americans. The Giant Pool of Money provides a grim look at how rampant credit and lending paired with bad decision has made foreclosures soar to record numbers in 2008.

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