Jay Rosen calls the special This American Life episode on the mortgage/credit crisis “probably the best work of explanatory journalism I have ever heard.” After listening to the podcast yesterday, I’ve got to agree. Not only do I now understand what happened, I think I’m actually going to remember the explanation.

Furthermore, the show focuses on the question that really bothers most of us: What the hell were we thinking? Didn’t we know that offering huge loans to anyone who walked in was unlikely to end well? The show interviews people at different levels in the process, and asks them exactly that.

It is a great piece of journalism. And be sure to read Jay’s piece about it, which is both insightful and wise.

[Tags: journalism media mortgage jay_rosen ]

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