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We’re going to bet against the American Dream, we’re going to be on the winning team, purchase risky debt on a massive scale. Then place a bet that the debt will fail. Hundreds of millions for Magnetar, the economy collapsing like a dying star.
Bet Against The American Dream
From Planet Money — This American Life
Music And Lyrics By Robert Lopez
‘Vocalists: John Treacy Egan & Christopher Borle
‘Music Supervisor/Producer: Stephen Oremus
‘Orchestration: Bruce Coughlin
‘Piano: Mark Hummel
‘Keyboard: Randy Cohen
‘Bass: Dave Phillips
‘Drums: Sean McDaniel
Listen To The Full Broadcast
WBEZ: This American Life
Airdate: April 9, 2010
Running Time: 60 minutes
Those weary of complex jargon and legalese but who still wonder what happened on Wall Street will find this show-stopper musical number to be both informative and entertaining. It was produced by Chicago Public Radio for NPR’s Planet Money series. It aired earlier this month on a This American Life radio program entitled “Inside Job.”
This level of satire, creativity and humor has all but disappeared from today’s mechanized and automated commercial radio content. If commercial radio has become a vast desert of sameness, public radio is a modern Mecca of creativity, originality and commentary.
Today, programs such as NPR’s Planet Money, and WBEZ’s This American Life can use satire and cutting commentary because producers are free of commercial demands seeking to attract large numbers of listeners with sometimes stultifying or mind-numbing sameness.
Public radio is also capable of speaking to what’s most important to listeners and nation by going against the establishment when so many others feel compelled to go along to get along. Public radio did not invent political commentary or satire, for that was once the province of American commercial broadcasting. That era ended when the FCC ended station ownership limits that marked the beginning of today’s big media empires.
Today’s NPR remains this nation’s most valuable, complex and creative broadcaster of record and dissemination of news and information content overlooked by those seeking to make money by turning news and information programming into news as entertainment.
From Planet Money
This American Life, National Public Radio
You write a check for 10 million dollars.
Hand the check to a Wall Street bank, and ask them to make us a CDO.
Step two: they create the CDO, using risky stuff, very risky stuff, extremely risky stuff.
Step three: other investors commit hundreds of millions of dollars to the CDO.
Step four: we bet against the CDO, using a credit default swap.
Step five: the housing market crashes. The CDO’s value goes to zero, our bet pays off and we make hundreds of millions of dollars and before you can say step six, we’re rich!
We’re going to bet against the American Dream, we’re going to be on the winning team, purchase risky debt on a massive scale.
Then place a bet that the debt will fail. Hundreds of millions for Magnetar, the economy collapsing like a dying star.
No one will know till it’s on NPR, and who cares? It’s time to hit the town, this sucker could go down. The housing market’s losing steam.
And all we got to do to make our dreams come true is bet against the American Dream!
National Public Radio has made itself America’s most valuable source of news and information.
NPR is an immense treasure — all to often overlooked in today’s immensely complex and often frivolous broadcast environment. If you’ve been intrigued by WBEZ’s This American Life, you may find earlier Newsroom Magazine coverage of National Public Radio worth checking out.
Read About NPR’s Critical Role In American Broadcast Journalism
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