29 min listen
Russ Roberts on the Crisis
FromEconTalk
ratings:
Length:
90 minutes
Released:
May 17, 2010
Format:
Podcast episode
Description
Russ Roberts, host of EconTalk, discusses his paper, "Gambling with Other People's Money: How Perverted Incentives Created the Financial Crisis." Roberts reflects on the past eighteen months of podcasts on the crisis, and then turns to his own take, a narrative that emphasizes the role of government rescues of creditors and the incentives this created for imprudent lending. He also discusses U.S. housing policy, particularly the Government Sponsored Enterprises (GSEs), Fannie Mae and Freddie Mac and how the government's implicit guarantee of lenders to the GSE's interacted with housing policy to increase housing prices. This in turn, Roberts argues, helped create the subprime market, created mainly by private investors. The episode closes with some of Roberts's doubts about his narrative.
Released:
May 17, 2010
Format:
Podcast episode
Titles in the series (100)
Giving Away Money: An Economist's Guide to Political Life: The economics of politics, rent-seeking, and lobbying, by Russ Roberts and Mike Munger. by EconTalk