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#96 Planet Money: Giant Pool Of Money: Where Are They Now?

#96 Planet Money: Giant Pool Of Money: Where Are They Now?

Planet Money vor 16 Jahren

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We revisit the show that fathered our podcast — The Giant Pool of Money.

In that show, Adam and Alex set out to explain a simple question: "Why would the financial services industry rush to make lots of loans to people who couldn't pay them back?" They traced the mortgage chain from the people who took out the loans to those who re-packaged them and sold them off. That show aired in May of 2008 several months before we knew the extent giant financial collapse we were headed for. Today we visit two of the people featured in that piece. Richard, a Marine who was facing foreclosure, and Jim Finkel, a CDO manager, to see they've fared in the downturn.