THIS AMERICAN LIFE
Act One. Eat My Shorts.
A hedge fund named Magnetar comes up with an elaborate plan to make money. It sponsors the creation of complicated and ultimately toxic financial securities… while at the same time betting against the very securities it helped create. Planet Money‘s Alex Blumberg teams up with two investigative reporters from ProPublica, Jake Bernstein and Jesse Eisinger, to tell the story. Jake and Jesse pored through thousands of pages of documents and interviewed dozens of Wall Street Insiders. We bring you the result: a tale of intrigue and questionable behavior, which parallels quite closely the plot of a Mel Brooks musical. If you have any questions after hearing this story, you can email the ProPublica team for an answer. (40 minutes)
EDITOR’S NOTE: HIGHLY RECOMMENDED