A friend sent me this transcript of an This American Life (NPR), explaining exactly how the financial crisis started, in terms you and I can understand. Here’s a brief snippet to whet your appetite:

Think how attractive a mortgage loan is to that 70 trillion dollar pool of money.
Remember, they’re desperate to get any kind of interest return. They want to beat
that miserable 1 percent interest Greenspan is offering them.
And here are these homeowners, they’re paying 5, 7, 9 percent to borrow money
from some bank. So what if the global pool could get in on that action?
There are problems. Individual mortgages are too big a hassle for the global pool of
money. They don’t wanna get mixed up with actual people and their catastrophic
health problems or debilitating divorces, and all the reasons which might stop them
from paying their mortgages.
So what Mike and his peers on Wall Street did, was to figure out how to give the
global pool of money all the benefits of a mortgage – basically higher yield - without
the hassle or the risk.

I do not normally delve into politics on my blog, but ran across a thought-provoking piece at MadeByMark.com. Mark McElroy, wrote a very interesting article regarding some insights of his into what he felt Sarah Palin stands for. Mark ends his article with this thought:

Why This Matters. The other night, we found ourselves engaged in a political conversation with a chatty waiter, a young gay man who had just watched the Republican primary. “Did you see Sarah Palin’s speech?” he asked us. “She’s really pretty, and I loved her attitude. Maybe she’s just what this country needs.” …

… All that mattered to this young man was her looks and her attitude. “She seems spunky,” he said.

In the end, as responsible citizens, I suggest we need to focus less on a candidate’s apparent spunk and sparkle, and more on what she has achieved … and how she has achieved it. Continue Reading »