How the economy collapsed

[kalbo]

Not sure how popular this video is already. It's an interview shown on pbs with William K Black, a university professor who was once the Director of the Institute for Fraud Prevention. He explains how our current financial crisis was essentially caused by a massive Ponzi scheme by the heads of the big banks (Bernie Madoff was just a scapegoat). He goes on to explain the big cover up that ensued.

The video is almost half an hour long:
http://www.pbs.org/moyers/journal/04032009/watch.html