Last week’s episode of This American Life was a super-interesting deep dive into some of the players that caused the financial meltdown. They started with the premise that the oft-repeated phrase “no one saw this coming” was unacceptable. Wall Street is supposedly filled with these financial wiz kids, and can we really believe that no one saw the risk? No one is responsible for the creation of so many worthless assets?
Because the podcast is an hour long, and WAY to dry for most normal humans, I’ll try to sum up some key findings here.