Home > Uncategorized > Actually, a very commendable job: NPR's Ira Glass/This American Life on "The Invention of Money"

Actually, a very commendable job: NPR's Ira Glass/This American Life on "The Invention of Money"

Even Ron Paul gets a chance to talk! Listen for yourself:

[View:http://www.thisamericanlife.org/sites/all/play_music/play_full.php?play=423&podcast=1:550:0]

In particular, I like Act Two, starting at 29:12 (and don’t miss the closeout song, “We Do (The Stonecutters’ Song)”, The Simpsons)::

Act Two. Weekend At Bernanke’s.

Though the name of the Federal Reserve includes the word “federal,” it’s not actually part of the government. It’s an independent institution tasked with something very simple, but very huge: Creating money out of thin air. And during this last financial crisis, the leaders of the Fed did things that they would never have considered doing in the past. Alex Blumberg and David Kestenbaum report on what the Fed usually does, and how, since 2008, it’s taken a trip to what amounts to Fed Crazytown. (26 minutes)

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