Back in May this year, This American Life did a great radio broadcast on how the whole mortgage loan industry spun up and crashed. Fairly balanced account, includes stories of minimum wage workers buying $450k houses on no-proof applications, to the brokers and intermediaries and the banks and all points in between pushing to fill the pipeline with more loans to keep the secondary markets flowing… Really great account of how the mess started and played out. Worth $.95 to download.
