What The Hell Happened?

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Below is a link to an excellent THIS AMERICAN LIFE episode explaining how we landed in the credit crisis. Shortsighted greed and stupidity, as it turns out, all up and down the chain; from the would be homeowner who can't do simple math to see that he can't afford a $250,000 house on $35,000 a year, to the mortgage broker who shoehorned him into that house, to the Wall Street titan who bought that flying Broadway flat of a loan, rated it triple A, and then borrowed money against it.

http://thislife.org/Radio_Episode.aspx?sched=1242