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Posts Tagged ‘credit crunch’

credit crunch: wtf?

In economics but sexy, finance but sexy, wtf? on 12 October, 2008 at 7:44 pm
damn straight

damn straight

Once again, This American Life explains how giving mortgages to people with no money turned into the end of Western capitalism.

The show explores how the commercial credit market froze up, essentially crippling every major business in the Western world; how toxic financial instruments infected the entire system. Also: why the $700billion was mostly a reaming.

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