Demystifying the Credit Crisis & the Fed (Serious and Not So Serious)

This bit of audio (MP3 — Feed — Web Site) lucid­ly explains what hap­pened at Bear Stearns, and why the Fed act­ed as it did. It’s worth a good lis­ten if you’ve been try­ing to piece togeth­er the log­ic. The audio comes from the News Hour with Jim Lehrer.

[Update: I’d also rec­om­mend this piece from the New York Times. It does a good job of explain­ing the big­ger pic­ture.]

On a less seri­ous note, we also have a video that explains the cred­it cri­sis with the help of a coun­try music jin­gle. More astute view­ers will note the name of the singer, Mer­le Haz­ard, is an allu­sion to the con­cept of “moral haz­ard” that’s men­tioned in the audio above.

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