Host Ira Glass talks with Michael Perrino, a law professor at St Johns University School of Law in New York, who wrote a book about Ferdinand Pecora called The Hellhound of Wall Street. Pecora was the lead attorney in the Senate Banking Committee hearings in the 1930s looking into wrongdoing in the banking industry.
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Host Ira Glass notes the sub-industry in journalism right now of reporting anything that looks like a sign of the recession. He then goes on to list a handful of his own favorites, including a dentist who's seen an increase in broken teeth from grinding, and a decrease in shark attacks.
Ira goes to Chicago's Rogers Park neighborhood to talk to some condo owners who are in a precarious situation—since the housing market crash, the developer who renovated and sold them their units—Haso Meseljevic—has all but disappeared. He's in foreclosure on half of their building's units.
Host Ira Glass plays clips from TV in a recent senate hearing and talks about how confusing the current banking crisis is. But fortunately today, we have the team that brought us our show that explained the mortgage crisis a year ago, back to explain entire the banking system in 40 minutes.