Lehman Brothers, AIG Insurance, Merrill Lynch... Banks closing like clockwork, Fannie and Freddie as government wards, world markets nosediving on the news that the U.S. of part of A.'s financial house of cards is tumbling. The largest mortgage financing collapse is followed by the largest bankruptcy in history and possibly the worst economic crisis since the 1930s and yet the smoke and mirrors have kept Us looking some other way.
Here's a brilliant, incisive and prescient report from NPR's radio show This American Life that explains the current situation and what it could really lead to.
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