This past Saturday evening I was tuned into 89.7. This American Life came on and played an excellent article regarding the current situation on the banks.

They start out with the simple analogy of buying a doll house with borrowed money and go all the way through CMBSs and CDOs to the current discussion about nationalizing the banks.

Click here to go to the podcast. It takes about an hour and is well worth the listen.

It is at times very interesting and informative and at other times downright scary.