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Marketplace Whiteboard: How Credit Cards Are Turned Into Bonds
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I think Marketplace, a series of shows produced by American Public Media, is one of the best places to get straight-forward financial information for regular people like you and me. They boil down complicated and arcane ideas, ones dreamed up by a room full of financial wizards (or witches, depending on how recently you saw your 401(k) statement) and their pointy hats, into simple to understand ideas you can take away. I try to listen to all the shows whenever I get a chance.
To supplement the audio, which is downloadable for free (in case you can’t catch it on the radio or your local affiliate doesn’t carry it), they also offer some videos online to explain some of the more complicated subjects. Recently they published a video explaining how credit card debt is turned into (”securitization”) asset backed bonds.
There are a bunch of videos, all of them are brief and definitely worth watching when you have some free time.
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This is awesome! This is exactly the type of explanation that the average person would understand.