The Giant pool of Money transcript NPR - The Giant Pool of Money audio stream
A special program about the housing crisis produced in a special collaboration with NPR News . We explain it all to you. What does the housing crisis have to do with the turmoil on Wall Street? Why did banks make half-million dollar loans to people without jobs or income? And why is everyone talking so much about the 1930s?
The Magnetar Trade Story
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The hedge fund helped create mortgage-based securities, pushed for risky things to go inside them and then bet against the investments, resulting in billions in losses for investors and ultimately making the financial crisis worse. Note: Many CDOs were made up not of actual mortgages but side bets on them.
Graphic: Timeline of Magnetar's Deals