The economy, explained, with stories and surprises. Imagine you could call up a friend and say, "Meet me at the bar and tell me what's going on with the economy." Now imagine that's actually a fun evening. That's what we're going for at <em>Planet Money</em>. People seem to like it.
March 9th, 2010
Episode 250 of 902 episodes
We wanted to really understand how this whole housing bust/economic catastrophe is playing out. So we sent David Kestenbaum and Chana Joffe-Walt to Kansas City, where a former Wall Street guy named Wit Solberg runs a shop that buys and sells toxic assets. Wit sold them a $1,000 sliver of a toxic asset he'd bought for $36,000. The asset — a bond made up of residential mortgages — was marked down from the pre-crash price of $2.7 million. Of course, it's marked down for a reason. About 15 percent of the homes in the bond are in foreclosure, and nearly half are behind on their payments. The foreclosures will continue to mount, and at a certain point our asset will be wiped out. But until then, we'll get monthly payments. If we make it to Thanksgiving, we could double our money. (We'll be giving any profits to charity, by the way.)
Have you trembled ‘round the campfire as the ghost stories are told? Do tales of horrors wrought by nature and beyond strike fear in your soul? Is it best when you are afraid to turn out the light? Thrill to stories that strike at your deepest fears, as host Stephen Kilpatrick brings the best of horror fiction to your ears and your mind, read to you by the most chilling narrators that podcasting has to offer. <br /> <br /> Podcasting the finest in genre fiction, Tales to Terrify is where the depths of horror reveal the truths of good, evil, and the human spirit in the District of Wonders podcast network. Like all shows in the District of Wonders, Tales to Terrify is supported by a welcoming community of dedicated fans and contributors. Subscribe today, and begin your journey through the spine-tingling depths of storytelling.<br /> <br /> Everyone has a story in the District of Wonders. Come and find yours.