The 2008 Financial Crisis Explained

Civics 101

NHPR

Education, History, Supreme Court, American History, Elections, Democracy, Society & Culture, Government, Civics, Politics, Social Studies

4.6 • 2.4K Ratings

🗓️ 21 February 2023

⏱️ 56 minutes

🔗️ Recording | iTunes | RSS

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Summary

Millions lost their homes, giant institutions collapsed and a global recession began. This is the story of what the American government did about it.

Transcript

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0:00.0	So, Nick, you know I have brought you here today.
0:04.0	I do.
0:05.0	And my understanding is you're not terribly thrilled.
0:07.4	No.
0:09.2	Because this is the sort of stuff that my brain just turns off.
0:14.6	And it has for decades.
0:16.4	And I'm excited to change that.
0:19.2	All right, Nick.
0:20.2	Well, I have got an industrious young entrepreneur story for you.
0:24.6	Okay.
0:25.6	I wasn't expecting that to start us off, but I like those as a rule.
0:29.6	That's great.
0:30.6	So, it's 1844.
0:34.5	A young man named Hayem is living near Rimpard, Germany with his mom, his dad, and his two
0:39.8	brothers.
0:40.8	Dad's a cattle dealer.
0:42.6	But Hayem decides he's going to strike out on his own.
0:45.4	He's 23.
0:46.7	He emigrates to the U.S. changes his name to Henry and gets to peddling household goods
0:52.2	around Alabama.
0:53.2	Household goods.
0:54.2	It's not like the most profitable business, but it's sort of a tried and true start.
	...

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