A Fundamental Breakdown

There are likely going to be more than 12 Steps to this cycle.

Where do we go from here? Understanding how corrupt and dysfunctional the housing/ mortgage/lending/ real estate markets were is Step 1. One of the steps (be it Step 2, 6 or 12) is going to have to be – “Re-Creating the Financial Markets into functional systems.”

Take the time to listen to these podcasts

Giant Pool of Money

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? It all comes back to the Giant Pool of Money.

Another Frightening Show About the Economy

Alex Blumberg and NPR’s Adam Davidson—the two guys who reported our Giant Pool of Money episode—are back, in collaboration with the Planet Money podcast. They’ll explain what happened this week, including what regulators could’ve done to prevent this financial crisis from happening in the first place.

Breathe. Digest. The world is not coming to an end, but it’s likely to look at lot different when we’re through.

Try multi-tasking. Read How to Get Rich by Mark Cuban while you’re listening.

Hat tip.