Thursday, September 18, 2008

What Does the Wall Street Crisis Mean For Your Money? For Housing?

We've come across two very clear explanations of this crisis, with some answers to how it happened and what it can mean for your own finances.

The first is from the NYTimes Freakonomics blog, which is always linked in our sidebar. The usual Freaks called in some finance experts, Doug Diamond and Anil Kashyap, to write a guest post.

Among the questions they address are "What happened that is so remarkable?" and "Why should I care?"

The other explanation is audio--you may download this and listen at your leisure. It's an interview from Wednesday's Fresh Air with Terry Gross, and is about 38 minutes long. The guest is Michael Greenberger, a law professor at the University of Maryland. He discusses what the federal takeover of insurance company A.I.G means to individuals with retirement accounts, money markets, mutual funds, and so forth; what the company's "products" have done to Wall Street; and what the impact around the globe may be. Listen here.

1 comment:

Mark said...

I have a term life policy with AIG, so this is actually good news for me because I was planning on dying in order to pay off my mortgage, my HELOC and my other HELOC (Hummer Equity Line of Credit), my credit cards, and also the loan against the gold in my fillings.
Now that my life insurance policy is looking insolvent, I WANT TO LIVE, CLARENCE! I want to live!