This is not a diary. It will not contain multiple paragraphs of analysis or commentary or verbal poo-tossing.
It's just going to alert you, kind reader, to something that I think everyone who isn't an economist or mega-financier should listen to. Hell, economists and mega-financiers should listen to it, too.
This American Life broadcast Episode 375, "Bad Bank", this weekend. The free podcast should be available by tomorrow (according to the website).
I happened upon this broadcast earlier today while sitting in gawdawful traffic. It was so interesting and so completely understandable that I actually was grateful for the traffic, which allowed me to listen to the entire show.
If you only kinda sorta understand what's going on with the banking industry, or if you don't really understand it at all -- take an hour from your life and listen. This is something we all need to understand, and trust me, even if you think you understand it, unless you're bonddad, you probably don't. I understood the first ten minutes and then it was all terra nova for me. And it was all pretty jaw-dropping.
I'm not even going to try to recap it. I wouldn't be able to do it justice.
Take an hour. You won't be sorry. Well, you'll be sorry, but you won't be sorry, if you know what I mean.