"The Giant Pool of Money" episode of This American Life will probably win a Peabody Award. I finally got around to listening to this episode last night, which is a great explanation of how this current Housing Crisis developed and why it exists today.
I can't recomend this more: please go to their official site and listen to this episode for FREE!
Many of us understand what this crisis is. What it means now. But I found this report extremely interesting on what factors got us to this point. And it really puts this whole mess into perspective.
George Santayana said it best, "Those who cannot remember the past, are condemned to repeat it,"
By the way, I was always curious who said that first. I looked it up!
So please do George and I a favor, treat yourself to a listen of this very excellent episode of This American Life.