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Macroeconomics (ECO 101) The Giant Pool Of Money

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Sandra Watson
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University of Southern Maine

Introduction To Macroeconomics (ECO 101)

This American Life- The Giant Pool of Money

Prologue-
Host Ira Glass talks with an NPR business and economics correspondent about two gatherings
he attended—one at the Ritz Carlton and one at a community college in Brooklyn. The first
was an awards dinner for finance professionals who created the mortgage-based financial
instruments that nearly brought down the global economic system. The other was a non-profit
conference for people facing foreclosure. Ira explains that today’s show lays out how the
finance guys and the people facing foreclosure are connected by a chain of middlemen, and
that together, they all brought about the current housing and credit crisis.
Act 1-
This American Life producer Alex Blumberg teams up with NPR’s Adam Davidson for the
entire hour to tell the story—the surprisingly entertaining 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. And they explain that a lot of it has to do with the giant global pool of money.

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 Macroeconomics (ECO 101) The Giant Pool Of Money

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