Meltdown podcast4/9/2023 It forces her to pay its mortgage along with the that of the house she was trying to move into for her growing family, and she goes to the bank for help. The crash leaves Epstein holding the bag as the value of a condo she’s trying to sell collapse. She follows every instruction for seekers of the American Dream, and her voice just oozes believability and normalness. Not all heroes wear capesīut the best part is the unlikely champions. His impatience as his fellow Democrats dare to question his benevolence leads to some hilarious exchanges with Senator Warren. The show paints a particularly villainous portrait of Obama’s Treasury Secretary Tim Geithner. Another leading opponent, California’s Dianne Feinstein, dismissed the amendment’s attempt to break up some of the banks that were too big to fail, “This is still America.” At the time, she was the fifth wealthiest senator her husband was an investment banker. The Obama administration joined both New Jersey Democratic Senators, plus Democrats from big banking states like South Dakota and North Carolina to tank the Brown-Kaufman amendment, despite it being named for two fellow Democrats. Meltdown also describes how $700 billion of TARP money found its way not just mostly but exclusively to the very banks who had created the crisis rather than to the homeowners whose pain it was meant to alleviate. That would have allowed homeowners to renegotiate the terms of their first home, rather than just their second through seventh homes, as Obama memorably skewered McCain during the debates before surrendering on that very provision. They controlled the White House, had a massive majority in the House and nearly 60 votes in the Senate, but constantly schemed to derail reforms that would have helped the very people who had elected them in such great numbers in 20.Įfforts blocked by Democrats include gutting cramdown provisions. While of course the evil Republicans were on the side of the banks, the podcast focuses more on just how deviously the Democratic leaders behaved. The podcast makes a very compelling argument of bipartisan cynicism. But what makes Meltdown special is its unique ability to explain how the lack of political will to punish the perpetrators was a feature not a bug. It’s well-worn terrain, with dozens of books and even movies that go over the basic contours. Meltdown, an eight part series produced by Audible, tells the story of the financial collapse of 2008. But because it focused on events more than a decade earlier and is not about grisly murders, it didn’t get the attention it deserves. The very best podcast of the year actually launched last year. That’s why, when something lasting and valuable does manage to break through the horrible thing of everybody taping a conversation with their buddy and calling it a podcast, there’s a moral imperative to share the discovery. Press play to hear a narrated version of this story, presented by AudioHopper. Everyone who produces a podcast- including Sea of Reeds Media!-has been involuntarily turned into a little marketing division by Spotify, Apple, and Google, who are the main beneficiaries of the podcasting craze. And you can’t even trust the reviews since every podcaster’s plea for friends to “if you like what you hear, rate and review” has polluted the system. It’s almost impossible to find that beautifully written, deeply reported, cleverly edited needle in the podcast haystack.
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