If you want to understand the situation with bank bailouts, I highly, highly recommend the latest TAL. Among other things, I finally learned what the hell liabilities, assets, and capital are on a balance sheet!
Also: truly informative sources, like these finance-related episodes of TAL or, say, Krugman's blog, make you realize just how awful the mainstream press is at actually educating people about the issues of the day. Could you imagine Brian Williams explaining how a bank balance sheet works on the evening news?
How did the world function before the internet? I'm coming around to the conclusion that, pre-internet, everyone was just far, far dumber.
Tuesday, March 3, 2009
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