Episode Information

Once Again, The Economy
Where We Live - with John Dankosky
Aired:
11/12/2008
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In this episode:

The global economic crisis is a mess, and the messiest part is how little we understand about what really happened

 

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Episode Audio

52:00 minutes (24.97 MB)
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Adam Davidson is one of the people trying to clean up the mess - not by handing out bailout checks, but by helping us decipher the worlds of high finance, corporate malfeasance and governmental oversight.  

NPR's Economics Correspondent is a contributor to the NPR blog "Planet Money" and the show on This American Life called "Giant Pool of Money."  He's gotten deep into the world of credit default swaps and hedge funds.

Today, Where We Live, you get a chance to ask questions about the economy, the wall street bailout, the Obama economic plan - and whatever else has an impact on your economic life.

Join the conversation!  Add your suggestions, questions and comments below. 

Block photo by Zack McCarthy, Flickr Creative Commons

 

Adam Davidson will deliver the keynote address, "From War to Wall Street," at a conference on Journalism on Nov. 13 at Central Connecticut State University.

Davidson's lecture will begin at 7 p.m. in Torp Theatre in Davidson Administration Building. 
More information: 
www.ccsu.edu/conferences/journalism.htm.


 
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Listener Email

We continually hear the the credit deferred swaps are at the heart of the economic crisis and that a great number of the contracts were taken out by investors who did not have any skin in the game.  This may be an over simplification, however in the national interest of the country why couldn't we declare thses types of contracts illegal & refund the premium?
 
Jay S
 
Portland

Listener Email

My question to Adam would be about what new economic theories can we take away from this meltdown? I believe most economists thought the market was rationale and some in government thought the market could regulate itself. Can the market be rationale if humans are ultimately responsible for market directions and seem to be driven by the balance between greed and fear? Greed built up the housing bubble and now fear has taken over.

Scott
West Hartford, CT

Listener Email from Carol Klammer

The guilty parties to our financial crisis are doing in America exactly what the corrupt government officials and businessmen in places like Nigeria & other underdeveloped countries are doing globally: They have positioned themselves with total selfish motives in regard to the local economies and industries, for maximum profit to a very few individuals.

When we look at, for example, the oil economy of Nigeria we condemn these practices outright, looking at the dire and extreme poverty of the general population.

It differs in scale and detail only. The principles in practice are the same. The few, the greedy financially benefit in outrageous scale compared to the outcomes for the many.

I'd like to see those responsible convicted and then ostacized in the manner that sexual preditors are now. Identify who they are, publicize their crimes widely, and let the public response take over. These people are not welcome in my neighborhood or my town. I suspect many feel the same.

Carol Klammer Norwich CT