Everyone understands that the economy is in a bad place right now. We all know that unemployment and foreclosures are at highs not seen in the past 25 years. But, the media, government, and financial industry rarely address the situation in terms the general public can understand. NPR’s This American Life gets it. In an episode available for free here, Alex Blumberg and Adam Davidson explain why taxpayers have no viable alternative to bailing out banks and how insolvency became an issue in the first place. Blumberg and Davidson simplify bank balance sheets and address three realistic solutions to the current crisis. This episode even mentions ways that some individuals are making an effort to reduce the amount of toxic assets out there. This is truly a great way to learn about what’s going on not only in your own neighborhood, but also in the world economy today. After listening to Blumberg and Davidson, you will have an opinion on what’s happening in the economy, and you may even know what financial experts are talking about when they’re interviewed on the news! 

If you like this, also check out other programs from these guys, including Giant Pool of Money (May 2008) about the mortgage crisis and relationship between housing and the economy, and their daily blog and podcast.

OneCalifornia Bank may sing the praises of small banks all the time, but it isn’t the only one. Check out this May 2009 article in the New York Times about the successes of small, community-oriented banks. Link to the NYT article.