Tuesday, April 13, 2010

"bet against the american dream"

This American Life, NPR's Planet Money, and ProPublica just rolled out a story that discussed the role that one hedge fund, Magnetar, had in re-inflating the CDO markets in 2006, betting against that investment (using credit default swaps), and making millions when the housing bubble popped in 2008. It basically blinded me with rage (yet again), of which I thought I had built up an immunity towards after the last 2 years.

So instead, I am posting the song that riffs off of The Producers number "We Can Do It." It's called, "Bet Against The American Dream"; the TAL blog has the how it was made backstage pass, and the video was produced by the Planet Money team.

Bet Against The American Dream from Planet Money on Vimeo.

The TAL show can be found here. ProPublica's site has really great additional materials about the story.

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