A story about the beginnings of the economic collapse told in a way that makes a complex story accessible to a wide radio and web audience.
Ahead of many journalists, reporters Alex Blumberg and Adam Davidson gave an outstanding and occasionally irreverent explanation about the current financial crisis in April 2008, months before the global economy began to unravel. Through terrific storytelling and economic insight, the reporters demystify the subprime mortgage meltdown using personal stories to explain terms such as derivatives, tranches, short selling and credit swaps. Blumberg and Davidson found excellent characters to bring the economic forces to life; a shaky mortgage holder, a mortgage bundler, a Wall Street banker, and others. The program was the first collaboration between National Public Radio’s news division and This American Life produced by Chicago Public Radio. The podcast of the story has been downloaded over 500,000 times.
Alex Blumberg, Adam Davidson, reporters and producers; Les Cook, editor; Ira Glass, Ellen Weiss, executive producers
View “The Giant Pool of Money” here: http://qtstreaming.jrn.columbia.edu/dupont/2009/giantpoolmoney.mov